Cole Statement on H.R. 582
Washington, D.C. – Congressman Tom Cole (OK-04) issued the following statement after the U.S. House of Representatives passed H.R. 582, which would increase the federally-required minimum wage from $7.25 per hour to $15 per hour over five years. Cole opposed the legislation.
“While I don’t doubt this bill is well-intentioned, it is unprecedented and misguided for a country as large and diverse as the United States. Never in our history, or indeed in the industrialized world, has the minimum wage been increased so drastically in such a short amount of time,” said Cole. “Indeed, the one-size-fits-all policy proposed by the Democrats would have dramatic and unintended consequences nationwide for the very people it seeks to help and could cause up to four million lost jobs. In fact, the Economic Policies Institute predicts that the legislation would lead to nearly 38,000 jobs lost just in Oklahoma. With unemployment lower than it’s been in nearly 50 years and wages already increasing at the fastest rate in a decade, this misguided piece of legislation would undo it all.”