February 19, 2014
CBO Report: Minimum wage plan from @BarackObama and @KyDems could cost 1,000,000 jobs. #kyga14 #KYSEN
At a time when Kentuckians struggle to find work, Barack Obama, Alison Lundergan Grimes, Greg Stumbo, and Kentucky Democrats continue to advocate job-killing policies.
Democrats’ Minimum Wage Hike Could Cost Up To 1,000,000 Jobs
Yesterday, the nonpartisan Congressional Budget Office estimated that increasing the minimum wage to $10.10 could cost up to 1 million jobs.
On January 10th, an economist with Kentucky’s Legislative Research Commission, the independent agency that serves the legislature, projected that a minimum wage increase would kill almost 14,000 jobs.
Kentuckians want policies that create jobs, but Barack Obama and Kentucky Democrats pursue misguided policies that will kill jobs.
Barack Obama Doubles Down On Killing Jobs
In his 2014 State of the Union address, Barack Obama advocated increasing the minimum wage to $10.10. In the days that followed, Obama campaigned across the county to advocate for a minimum wage increase.
In his weekly radio address on February 15th, he doubled down on his demand that Congress raise the minimum wage. Obama boasted about issuing an executive order that circumvented Congress and unilaterally raised the minimum wage of federal contractors.
Grimes & Stumbo Get In Line With Obama
One week after Obama promoted the minimum wage hike in his State of the Union, Alison Lundergan Grimes said “increasing the federal minimum wage would be at the top of her agenda.”
Kentucky House Speaker Greg Stumbo (D-Lexington) called raising the minimum wage to $10.10 “his top priority.”
Kentucky Deserves Better
Kentucky’s unemployment rate is 8.0% – the sixth worst in the country. Instead of advocating policies that create jobs, Kentucky Democrats are content to follow Barack Obama’s lead and pursue policies that kill jobs.
Kentucky deserves better than rubber stamps for Obama’s liberal, job-killing agenda.
There is about a two-thirds chance that the effect would be...a reduction in employment of 1.0 million workers. Congressional Budget Office, "The Effects of a Minimum-Wage Increase on Employment and Family Income"