Phil Gingrey: “the minimum wage has not increased in 9 years. Yet over the past decade, we have experienced vast economic growth…”

“the minimum wage has not increased in 9 years. Yet over the past decade, we have experienced vast economic growth, record low unemployment and, in the last 3 years, the creation of 7 million new jobs. Without a doubt, at 4.5 percent, our unemployment rate is so low that some employers seek out illegal foreign workers to fill the jobs that they say a lot of Americans won't take. If we raise the minimum wage, businesses will have to find a way to offset added labor costs by one of two things, raising prices on goods and services or laying off workers. This is simple economics that many of my colleagues on the other side of the aisle cannot seem to accept or understand. When prices go up, demands go down. In other words, as the minimum wage grows, so does the unemployment rate. Furthermore, Mr. Speaker, unlike the debate in the Senate, H.R. 2 comes to the floor with no committee hearings, no committee votes, no opportunities for amendment. While our colleagues in the other body work on a compromise with President Bush, Members of the House of Representatives are shut out of any constructive debate. As a former member of the Rules Committee, I am extremely disappointed in the majority's failure to live up to its promises and allow an open and fair process on such a crucial issue. For the benefit of the workforce, I ask my colleagues, vote against the minimum wage increase. Protect our small businesses. Let's sustain this economic growth.”