SMALL BUSINESS OWNERS SAY NOW IS NOT THE TIME FOR A MINIMUM WAGE HIKE

(WASHINGTON, D.C., FEB. 23) – The International Franchise Association (IFA) today delivered to Congress a petition signed by more than 4000 franchise owners and advocates opposing the Raise the Wage Act in its current form.

The petition, which includes signatories from all 50 states, notes that “more than doubling the federal minimum wage at a time when the over 700,000 local franchise small businesses in this country are still recovering from the pandemic will be counterproductive at best and devastating at worst.”

Matt Haller, IFA Senior Vice President of Government Relations and Public Affairs, noted that “these small business owners and advocates represent Main Street’s voice. Put simply, they make a common-sense point that making it more costly to hire workers will make it harder for businesses to hire workers, particularly at a time when their businesses are already struggling.”

Additionally, a recently-released economic impact forecast notes that “a national change to minimum wage might slow employment growth.” In low margin sectors, particularly in the restaurant and retail space, an “increased minimum wage will reduce the number of employees hired and drive employers to adopt more automation.”

The full petition is available online here.

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About the International Franchise Association

Celebrating 60 years of excellence, education, and advocacy, the International Franchise Association is the world’s oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations, and educational programs to protect, enhance and promote franchising and the more than 733,000 franchise establishments that support nearly 7.6 million direct jobs, $674.3 billion of economic output for the U.S. economy, and 2.5 percent of the Gross Domestic Product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees, and companies that support the industry in marketing, law, technology, and business development.

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