As President Obama and Secretary Perez have said, raising the minimum wage isn’t just the right thing to do for working families it’s the smart thing to do to grow our economy.
And business leaders of all kinds agree, saying that they see higher wages as a sound business investment. They know that higher wages boosts productivity and reduces the high costs associated with turnover. They also know that consumer spending drives our economy; more money in people’s pockets means more customers for them. Add it up, and reduced training costs and more customers can grow a business, and create jobs.
That’s why these businesses, large and small, have all taken steps to raise their starting wages.
While progress is happening with more and more businesses raising their starting wages, and states and localities are taking action, the national minimum wage still needs to be raised. For too many workers in too many states the harsh reality is that the minimum wage has languished and lost ground for more than 5 years. It’s important that Congress take action so that we don’t leave them behind.
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