Expressing support for a $15 per hour minimum wage.
The adoption of a $15 minimum wage would potentially improve the financial stability of millions of workers, particularly those in low-wage growth occupations projected by the U.S. Bureau of Labor Statistics. Raising the minimum wage is presented as an economic stimulant that would increase consumer spending — which constitutes 70% of the economy — thereby boosting production and hiring. The resolution further argues that enhancing wages can lead to higher productivity for employers and lower employee turnover rates, ultimately benefiting both the workforce and the economy as a whole.
HCR73 expresses the Texas Legislature's support for increasing the minimum wage to $15 per hour. This resolution highlights the historical context of the federal minimum wage, established during the Great Depression through the Fair Labor Standards Act of 1938. It emphasizes that since 1968, the real value of the federal minimum wage has decreased by approximately 25%, which has failed to keep pace with inflation. Given that Texas has maintained its minimum wage at the federal level of $7.25 per hour since 2009, this resolution aims to address the struggles faced by full-time workers who are living below the poverty line.
Notably, the resolution does not outline specific mechanisms for implementing the wage increase, nor does it address potential pushback from business interests concerned about the impact on their operations. Critics may argue that raising the minimum wage could lead to job losses or increased automation as employers seek to mitigate higher labor costs. However, proponents of HCR73 argue that the societal benefits, including reduced poverty and increased household income, undeniably outweigh the potential downsides of wage increases.