House Democrats “Wage War” on Job Creation
Today, Congressman Kevin Brady released the following statement after voting against H.R. 582, the Raise the Wage Act, which passed the House of Representatives 231-199:
“The Democrat minimum wage mandate threatens the jobs of nearly four million American workers – many of whom are minorities, women, and those without high school diplomas.
“Thanks to Republican-led tax reform, the economy is booming in ways we haven’t seen in decades. This mandate will stop our growing economy in its tracks – undoing the positive impacts of these policies and forcing businesses to cut hours, raise prices, and ultimately eliminate jobs. By advancing this bill, Democrats are ignoring common-sense economics and jeopardizing the jobs of millions of vulnerable American workers.”
Background: The nonpartisan Congressional Budget Office reported that H.R. 582 would:
- Erase 3.7 million jobs.
- Cause a loss of $53 billion in real income for small businesses and workers.
- Cut family income for four out of 10 minimum wage workers.
Additionally, the National Federation of Independent Business reported that H.R. 582 would result in:
- A $2 trillion reduction in economic output.
- A $980 billion reduction in real GDP.
- A $103 billion reduction in personal disposable income.
