The $15 mandatory minimum wage would “reduce business income and raise prices as higher labor costs were absorbed by business owners and then passed on to consumers; and reduce the nation’s output slightly through the reduction in employment and a corresponding decline in the nation’s stock of capital (such as buildings, machines, and technologies). On the basis of those effects and CBO’s estimate of the median effect on employment, the $15 option would reduce total real (inflation-adjusted) family income in 2025 by $9 billion.”
The CBO study and its findings were reported well before the COVID-19 pandemic forced millions of Floridians into unemployment, thousands of businesses to close and the economy to take a dive.
Ballot Amendment 2 is a Constitutional amendment for voters to consider on November 3 that will raise the mandatory minimum wage in Florida to $15 an hour. This will increase payroll for businesses in the service industry by 77%.
Similar measures adopted in Seattle, San Francisco, Chicago and Washington, D.C., have proven to kill jobs. In these cities, the measure was implemented without the extreme challenges of a global pandemic.
Before COVID-19, Florida’s restaurant, lodging and tourism industry generated more than $112 billion in annual economic impact and provided jobs for more than 1.5 million Florida families. However, during the COVID-19 pandemic, many were forced to close leaving hundreds of thousands of Florida workers without a job.
Amendment 2 Hurts You is a campaign to raise awareness for the consequences of Ballot Amendment 2 on small businesses, workers and the economy.
Learn more about how Ballot Amendment 2 will devastate Florida:
Help save Florida jobs by voting no on Ballot Amendment 2 this November.
Paid Political Advertisement by Save Florida Jobs Inc.
230 South Adams St., Ste 200
Tallahassee, FL, 32301
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