Granholm Proposes Nation’s Highest Minimum Wage Increase
Loading ...Michigan recently announced an alarming proposal that would hike minimum wage from $7.40 an hour to $10.00 an hour, which would bring Michigan to the highest minimum wage rate in the nation. In addition to the 35% wage increase, dems unveiled a plan to mandate employer health care coverage, increase unemployment benefits and freeze home foreclosures. The party responsible for the packaged proposal claims that they are working on the side of those who are suffering in Michigan because of job loss. However, many are warning of the imminent dangers to an already tormented state on the verge of turning out the lights.
“Anti-jobs, anti-growth” says the President of the Michigan Chamber of Commerce, Rich Studley. Rich pointed out that the proposals would raise costs for employers and force them to cut workers even further than they already have with thinning profit margins. This new expense to businesses comes at a rather inconvenient time since Michigan’s unemployment rate reached 15.2% in June, the highest rate of unemployment in the nation. For many companies based on minimum wage labor, either cuts are made or prices are sky-rocketed to absolve the cost, both options posing a major threat to Michigan business already in turmoil.
Granholm’s anti-business proposal is expected to go to a ballot later this year.
