State Sen. Vin Gopal will oppose the $15 an hour minimum wage deal announced by top Democrats in Trenton Thursday over fears of its impact on small businesses in the state.
“The deal announced today by the Democratic Party leadership is a disastrous deal that will issue a devastating blow to our small business community and inevitably result in the closure of countless mom and pop shops,” Gopal said. “These are not large corporations that can absorb the blow. Forcing small business owners to drastically raise their minimum wage over this short period will result in layoffs and closures, which will ultimately hurt our local economy and will only empower bigger corporations.”
Under the deal, the state’s base minimum wage would climb to $15 an hour by 2024. Small businesses would reach that figure by 2026.
“We cannot jeopardize our small business community with a frivolous minimum wage policy. The majority of the mom and pop businesses, already facing very high rents here in Monmouth County, will, without question, suffer as a direct result of this deal,” Gopal said. “The plan also offers no concrete economic study to determine the impact on a regular basis.”