The Senate has the already-damaged bill to raise the Maryland minimum wage to $15 an hour on its plate and is planning to vote on extending the timeline for “small businesses” to 2028, slowing the rate of increase. They think they are protecting Maryland’s small employers. However…

A longer timeline is Bad for Business. Find out why here>

We need $15 by 2025!

The Senate has the already-damaged bill to raise the Maryland minimum wage to $15 an hour on its plate and is planning to vote on extending the timeline for “small businesses” to 2028, slowing the rate of increase. They think they are protecting Maryland’s small employers. However…

A longer timeline is Bad for Business. Here is why.

►Well over 76% of Maryland businesses have 15 or fewer employees. Putting those businesses on a longer timeline delays boosts in consumer spending that come with increasing the wage floor. Maryland’s economy is 70% consumer driven, so what is good for workers is good for business

 ►Establishing a longer timeline for small businesses puts them at a competitive disadvantage. Several large corporations like Amazon and Costco are already paying or phasing in a $15/hour minimum wage. Creating a wage gap between big and small business will cause workers to favor working at big corporations rather than small businesses. Without employees to provide great customer service, it will be challenging for small businesses to attract a workforce and thrive.

 ►Low pay results in high turnover rates, which are incredibly expensive for businesses. Small businesses can expect increased employee turnover when they are not required to pay the same minimum wage as large businesses. Constantly spending money on recruitment and training for high turnover positions is much more costly to businesses than paying a $15/hour minimum wage and retaining employees. Businesses can lose up to 20% of their annual profit per employee with untimely turnover.

 ►Using the number of employees a business has to determine wages is arbitrary. The number of employees does not necessarily correlate to a business’s profit margin. There are businesses with fewer than 15 employees that make high profits. (For example: law offices, real estate development companies, marketing firms, etc.)

Extending the timeline is bad for business. As the conference committee meets TODAY (Tuesday, March 19) let their offices know that their attempt to protect small businesses will backfire on the businesses, the workers and Maryland’s economy.

Contact:

Sen Augustine : [email protected] 410-841-3745

Sen Feldman [email protected] 410-841-3169

Sen Kelly [email protected] 410-841-3606

Delegate Davis [email protected] 410-841-3519

Delegate Dumais [email protected] 410-841-3052

Delegate Wilson : [email protected] 410-841-3325