Economic recovery from coronavirus requires a federal minimum wage hike: Mark Cuban – By Lucas Manfredi (FOX Business) / April 23 2020
The “Shark Tank” star called for a federal minimum wage of $15 per hour.
Businesses of all sizes will go through a “period of pain” to get the economy back up and running and will need to reevaluate how they support their employees as people go back to work after the pandemic, billionaire entrepreneur and Dallas Mavericks owner Mark Cuban said.
“We’re going to go through a reset. It’s really difficult to know what America 2.0 is going to look like, particularly at the beginning, and so all businesses of all sizes are going to be reevaluating,” Cuban told FOX Business’ Charles Payne Thursday during FOX Business’ America Works Together virtual town hall. “I really prefer small government and small intrusions but now it’s going to be a little bit different. I think we’re going to have to extend unemployment benefits, we may have to see a federal minimum wage [hike].”
Mark Cuban visits “Mornings With Maria” at Fox Business Network Studios on November 14, 2019 in New York City. (Photo by John Lamparski/Getty Images)
The current minimum wages are not “really applicable anymore,” he said.
The federal minimum wage for covered nonexempt employees is $7.25 per hour, according to the U.S. Department of Labor. Georgia has the lowest minimoum wage at $5.15 an hour and California has the highest state minimum wage at $12 an hour.
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