Olson Acts to Protect Working Families & Job Creation
Washington, DC – Rep. Pete Olson (TX-22) today voted to protect small businesses and job creation by opposing the mandatory $15 minimum wage increase. Studies have determined that increasing the minimum wage to $15 nationwide without allowing states to consider their own local economics would hit small businesses and mean a loss of up to 269,000 jobs in Texas alone.
“At a time when we have record low unemployment across all demographics, the last thing we should do is strangle this economic success with a stifling wage hike,” Rep. Pete Olson said. “According to the non-partisan Congressional Budget Office, this mandate would mean a loss of 1.3 million jobs. Instead of imposing crushing mandates, we need to continue the pro-business policies that allow companies to grow and create jobs.
“While $15 an hour might make sense in cities like San Francisco, in small towns across the country a dramatic wage hike will crush employer budgets and force them to hire fewer of the very people who need these jobs. Cities and states should have the freedom to adjust salaries to reflect their specific economic needs – not face a one-size-fits-all mandate from Washington. This policy hurts the very families Democrats say they want to help.”
US Economic Snapshot:
- 5.6 million – jobs created since January, 2017
- 224,000 – jobs created in June
- 3.7 percent – unemployment rate, near 50-year low
Impacts of Wage Hike:
- 3.7 million – American jobs could be lost due to the Democrats’ plan
- 62 percent – of job losses would overwhelmingly hurt women according to the CBO’s median estimate
- 38 percent – of job losses would hurt folks without a high school diploma, making it even more difficult for entry-level employees to break into the job market
- 42 percent – More than 4 in 10 families with a minimum wage earner in the household could see their total family income reduced
Media Contact: Melissa Kelly