Could new minimum wage increase cause trouble for local businesses?
Thu, 14 Feb 2013 02:08:20 GMT —
In last night's State of Union address, President Obama proposed raising the federal minimum hourly wage from $7.25 to $9, which could mean some changes for local businesses.
Owner of PCRX Computers, Ryan Foultz says he was stunned when he heard about President Obama's possible wage increase.
"I can see raising it a lit bit because of the economy but that's a pretty good hike," Foultz said.
The White House says the increase would raise pay for more than 15 million workers.
Foultz says he's not against it, but says that big of a jump is just too much.
"Especially for small businesses like us because we don't have the cash flow like some of the larger businesses do," Foultz added.
President Obama says he wants the increase to happen in stages through 2015.