Political Quotes

“I thank Mr. Morelle for yielding the customary 30 minutes, and I yield myself such time as I may consume. Mr. Speaker, today we are considering H.R. 582, the Raise the Wage Act. This legislation would raise the Federal minimum wage to $15 an hour, a 107 percent increase over the current rate of $7.25 an hour. An increase of this magnitude could harm American businesses, could harm American consumers, and certainly will harm American workers. The legislation does not consider the labor market, it disincentivizes job growth, and it has the potential to leave nearly 4 million workers unemployed. Let us consider the data. The Congressional Budget Office recently released a report on the effects of mandating a Federal minimum wage in the United States. The report explains how more than doubling the minimum wage would increase unemployment up to 4 million individuals. Four million workers would have to be laid off to increase wages for a little over 1 million people. That means, for each person lifted out of poverty due to a wage increase, another three individuals will lose their jobs. Why? I ask my colleagues: Is this a fair tradeoff? This bill creates false hope for low-wage earners who will be counting on a wage increase and keeping their job. But what if they don't keep their job? Then it is no wage at all. In addition, those who are most likely to lose their jobs are likely to be minorities, women, and our young people.…”