Increasing federal least wage amid coronavirus will be a ‘disaster’ for US business: Andy Puzder

Previous CKE Places to eat CEO Andy Puzder thinks that increasing the federal minimum amount wage to $15 an hour would be disastrous for corporations, especially those people struggling amid the coronavirus pandemic.

“Increasing labor fees for these firms will be a disaster,” he stated on FOX Business’ “Varney and Co.” “Can you think about what this $15 minimum amount wage would do at a time when we’re looking at tens of thousands of tiny companies close?”

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In its most recent Area Financial Impression Report, Yelp described more than 160,000 American corporations have shut, and throughout the place, both equally long term and temporary closures are on the increase. In Puzder’s market, nearly 17 percent of all U.S. dining establishments — far more than 110,000 organizations — have closed extensive-phrase or completely, in accordance to a National Cafe Association research.

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Although Puzder is hoping a national wage hike does not happen, he’s not totally optimistic.

“I believe it could transpire relying upon what takes place in Georgia,” he claimed, referring to the forthcoming Senate runoff elections.

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“If we win individuals two seats, or even 1 of the two Senate seats, I believe we will be capable to maintain off on a $15 minimum amount wage,” he explained. “Minimum wage truly must be dealt with at the condition or nearby degree as it can be becoming dealt with now. But, if we shed Ga, it is really video game above.”

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Puzder went on to say that he’s “not very optimistic” about where the U.S. economic climate is headed if Republicans lose the two Ga Senate seats.

FOX Business’ Julia Musto contributed to this report.