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Undo Business Regulations

The City Council has passed several ordinances that will be harmful to small businesses. The $15/hour minimum wage ordinance is just on of them, but quite possibly the one that will do the most damage. This ordinance was passed on the heels of a study that was released out of Washington State that shows how employees making $13/hour having less income, on average, than they did when they made $11/hour. Employers have cut employee's hours to make up for the additional costs. This ordinance needs to be reversed before it takes full effect.

Restaurants may be one of the industries most affected by this minimum wage increase. Not only is the restaurant industry one of the hardest to "make it" in, roughly 60% fail in the first few years, but, Minneapolis has already burdened restaurants with an added 3% sales tax. When these two things are coupled together, it is going to price most restaurants out of business. 

We need to be creating policies that make it easier for restaurants and businesses to succeed in our city and not ones that make it harder for them. The more businesses we have in the city, the more sales tax revenue we will receive, meaning we could then look at reducing the 3% restaurant sales tax and property tax.

 


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