As the most recent Florida TaxWatch research shows , a drastic increase to a $15 an hour minimum wage could produce unfortunate results. It is far more important for Florida’s policymakers to make targeted investments in education and workforce development to build a $15 an hour workforce, rather than through burdensome government mandates.
The latest Florida TaxWatch Economic Commentary finds that a raise in the statewide minimum wage to $15 an hour would likely harm Florida businesses and the job market. Florida TaxWatch estimated that businesses employing minimum wage workers in the state of Florida could see a nearly $2 billion increase in labor costs. This conservative estimate only accounts for workers currently making minimum wage, but an increase of the minimum wage to $15 an hour would raise the cost of wages for nearly half of Florida’s workforce.
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