(Editors note: Some comments on the effects of the proposed minimum wage increase below. For the concise quotes from the Department of Finance, a hat tip to Sen. John Moorlach.)
Now for a few words from government analysts on the proposed minimum wage increase.
What did Governor Brown’s own Department of Finance say about a $13 minimum wage? (Sen. Moorlach: Imagine the Adverse Effects of $15)
“…impact on economy and budget likely to be negative”
“…would lead to slower personal income growth”
“…lead to slower employment growth”
“…negative impact on taxes collected”
Assembly Appropriations Committee:
Eventually cost taxpayers an additional $3.6 billion a year in higher pay for government employees
(UPDATE: The $3.6 billion estimate was originally attributed incorrectly to the Legislative Analyst’s Office)