KEAN STATEMENT ON MINIMUM WAGE RESOLUTION
Assemblyman Sean Kean, R-Monmouth and Ocean, issued the statement below regarding the Assembly’s approval today of SCR-1, which proposes an amendment to the State Constitution which would set the minimum wage at $8.25 an hour beginning January 1st, if it is approved by the voters in November. The resolution also requires annual increases to the wage based on the consumer price index for all urban wage earners and clerical workers (CPI-W).
“Many small businesses cannot afford the 14 percent increase mandated by this resolution. It is naïve to believe there won’t be a fallout for younger people who depend on these kinds of jobs to help pay for their education or car insurance. They will either lose their job or receive fewer hours to work.
“Adjusting the rate annually based on increases to the CPI only adds insult to injury. It would be devastating to any business’ operations as it establishes an arbitrary formula for increasing wages and ignores market factors which is the proper way to determine wages.”
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