Yesterday, the U.S. House of Representatives approved an increase in the federal minimum wage to $15 per hour over the next six years. The bill calls for setting the minimum wage for non-tipped employees at $8.35 per hour three months after it becomes law and then climb every year afterward by about $1.30 until reaching $15 per hour in the year 2025. This is the first wage increase approved by the House since 2007 when it raised the minimum wage pay floor to $7.25 per hour as of 2009.
Click
here to read an article recently posted on Restaurant Business Online which details the bill, including the phase out of the tip credit, and the potential impact it has on the restaurant industry.
Your team at Laufer LLP understands the effect this bill has on the livelihood of McDonald’s business owners as we have been anticipating an increase in the minimum wage for years. Thousands of restaurant owners, particularly family-owned businesses, have been communicating with Congress to share their concerns and you can do the same. Now is the time to be vocal with your US Senators by sharing your thoughts on how this bill will affect your business and hiring practices.
As always, we are here to help. Please reach out to a member of the Laufer LLP team to explore the steps you can take to overcome the minimum wage increase by calling
631-226-9600. And be sure to follow us on
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