Business Roundtable supports an increase in the minimum wage. The federal minimum wage has not been raised since 2009, the longest period since its inception. Due to inflation, it has lost significant value and no longer provides an adequate income to many working Americans who depend on it.
To minimize the potential for job losses and other adverse economic effects, Business Roundtable believes an increase should be phased in over several years. In setting a new minimum wage, Congress should take account of regional differences in average wages, as well as the impacts on small and medium-sized businesses. Congress should also consider the special circumstances of tipped employees.
The member companies of Business Roundtable are committed to the prosperity of American workers. We are investing in workforce, education and skills training to create economic opportunity for all Americans. Many Business Roundtable members have raised their own wage floors and we believe it is time to take similar action on a national level.