Washington, DC (January 25, 2021) — Tonight, the U.S. Senate confirmed Janet Yellen to be the next Treasury Department secretary.
Alfredo Ortiz, President and CEO of the Job Creators Network (JCN), released the following statement:
“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.”