INDEPENDENT STUDY MAKES CLEAR THE NEGATIVE CONSEQUENCES OF RAISING MINIMUM WAGE
LOS ANGELES, CA — Beacon Economics’ cost-benefit analysis of the City of Los Angeles Minimum Wage Proposal was released today. This independent study, commissioned by the Los Angeles Area Chamber of Commerce, addresses the Mayor and City Council of Los Angeles’ desire to establish a city-wide minimum wage. The Los Angeles Area Chamber of Commerce releases the following statement regarding this study:
“This truly independent study makes clear that the current minimum wage proposal will limit the growth to our economy, limit the growth of jobs, limit funding to city services and not actually reach those it intends to help,” said Ruben Gonzalez, Senior Vice President of Public Policy & Political Affairs of the L.A. Area Chamber. “It is a well intended public policy, but damaging in reality.”
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The Los Angeles Area Chamber of Commerce represents the interests of business in L.A. County. Founded in 1888, the Chamber promotes a prosperous economy and quality of life in the Los Angeles region. For more information, visit www.lachamber.com