Rep. Cole Votes for Republican Plan to Increase Wages and Protect Small Businesses

WASHINGTON – Congressman Tom Cole supported legislation that would increase the minimum wage while also providing relief for small businesses. This Republican alternative to H.R. 2 failed to garner the support needed to pass in the House. The Democrat bill (H.R. 2) would only raise the minimum wage without providing any relief to the small businesses who stand to suffer the most from such an increase.

"The Democratic plan that was offered today does not provide a fair and balanced approach to increasing the minimum wage. Last year, the House passed a comprehensive bill that addressed the needs of the American worker as well as the needs of America's small businesses. I believe the plan we send the President needs to take to that approach," Congressman Cole said.

In July 2006, Congress passed H.R. 5970 that increased the minimum wage, extended the Research and Development tax credit and reduced death taxes for family farms and small businesses. Unfortunately this legislation failed to pass in the Senate.

"There is a reasonable chance that the Senate will not agree with the Democrats narrow approach. If this is the case, I hope that we will be able to work together to find a good compromise--one that increases the minimum wage, protects small businesses and grows the economy," Congressman Tom Cole said.

Independent studies confirm that the Democratic proposal to raise the minimum wage, without incorporating relief for small businesses, could have a negative impact on America's workforce. According to the Hoover Institution, 20 percent (1.6 million) of the nation’s minimum wage workforce could lose their jobs under the unbalanced Democratic plan.

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