Rounds: $15 Minimum Wage Would Damage Our Economy By Killing 1.4 Million Jobs

WASHINGTON—U.S. Sen. Mike Rounds (R-S.D.) today issued the following statement after the non-partisan Congressional Budget Office (CBO) released a report detailing the devastating impacts of President Biden’s proposed $15 minimum wage increase.

“As a former governor and business owner, I understand how important economic policies are in making sure businesses have opportunities to grow and create jobs.

“President Biden continues to embrace a radical left-wing agenda by pushing policies like a $15 federal minimum wage, which would kill an estimated 1.4 million American jobs and damage our economy.

“In South Dakota, I’ve already talked to several small business owners who have indicated they will be forced to cut staff, just to stay open, should this drastic hike to the minimum wage take place.

“We are in the middle of a pandemic. Our businesses have faced enough hardship already. We don’t need to add additional injury. Our goal should be to enact business-friendly policies that promote economic growth and job creation.”