According to the GOP, raising the minimum wage will backfire. Since employers will be forced to spend more money on their workers, they will compensate for the financial loss via other means. Most commonly, this involves laying off employees, reducing hours, or increasing prices. However, these factors have never stopped Democrats from advocating for higher minimum wages.
As a matter of fact, Democrats’ confidence in minimum wage increases is higher than ever. Rep. Bobby Scott actually stated that the legislation will benefit the economy and various communities in the event of its success:
“When we put money in the pockets of American workers, they spend that money in their communities. So this bill will stimulate the economy on main street.”
Additional updates regarding this legislation will follow as new developments arise.
