About 32 percent of businesses said they demanded a higher skill level from minimum wage employees, and 29 percent found other ways to reduce expenses, such as more aggressively bidding out supplies, foregoing health insurance, reducing employee benefits, eliminating employee bonuses, cutting marketing expenses, expanding off-site services that require fewer employees, and reducing donations to local nonprofits, the survey found.
Chairman Scott expressed skepticism of such findings throughout the hearing today. “Every time we propose raising the minimum wage, opponents repeat a familiar set of taking points that have been repeatedly contradicted by evidence and research,” he said.
Scott maintains that his bill will stimulate local economies across the country.
The lawmaker said the legislation’s five-year minimum wage step-up would also generate $120 billion in additional wages, which will flow back into local businesses.
“Whereas the Republican tax bill gave the largest benefits to those who needed it the least, this bill puts money directly into the hands of those who are most likely to spend it in their communities,” Scott said.