CIANJ Statement on Raising the Minimum Wage
September 7th, 2018
Yesterday, Assembly Speaker Craig Coughlin said the legislature must be responsible when it comes to raising New Jersey’s minimum wage so that the business community is not destabilized. We could not agree more – quickly raising the state’s minimum wage to $15 an hour would be devastating to many businesses and would harm our state’s economy. Businesses would be forced to eliminate staff, reduce hours or move operations out of New Jersey. Trenton lawmakers need to make New Jersey more affordable for all residents by reforming our tax system and making our State more competitive and attractive to new investment so that more private sector jobs can be added giving residents a better quality of life.
Should Trenton lawmakers feel compelled to raise the minimum wage, it should be done in a responsible, phased in manner, incorporating business concerns and should include proper exemptions. They need to appreciate that a dramatic increase in the minimum wage can hurt the very people they are trying to help.