Job Creators Network Reacts to Yellen’s Confirmation as Treasury Secretary

Washington, DC (January 25, 2021) — Tonight, the U.S. Senate confirmed Janet Yellen to be the next Treasury Department secretary.

“Secretary Yellen will be an important player on many issues that affect small businesses, including Covid relief and the Paycheck Protection Program.  President Biden’s Covid relief bill includes a $15 minimum wage – a catastrophic proposal for small businesses and our entire economy. In 2014, Yellen backed a report that found a $10.10 federal minimum wage could kill half a million jobs. However, during her confirmation hearing last week, Yellen claimed that a $15 minimum wage would result in “minimal” job loss. Ms. Yellen had it right the first time. We urge Secretary Yellen to be a candid, relentless advocate for small businesses – both publicly and behind the scenes.  Small businesses cannot afford a federal $15 minimum wage, particularly coming out of this pandemic-induced recession. We need pro-growth policies that will empower the private sector – not the government – to lead America’s recovery.”