U.S. Senator for Maine, Republican party
Pros and Cons for minimum wage increase
- Would inject an amazing $9.5 billion extra spending power into the economy.
- An increased minimum wage may also lead to an increase in the hourly pay of other low-wage workers that only make slightly more than the federal minimum wage. This increased purchasing power across the board helps stimulate the economy and benefits small businesses, many of which were hardest hit by the recession.
- Costs companies more to pay their workers.
- An increase in minimum wage will force small businesses to raise their prices.