Not even 12 hours old, President Barack Obama’s proposal to hike the minimum wage to $9 an hour from $7.25 was quickly rejected by House Speaker John Boehner.
“When you raise the price of employment, guess what happens? You get less of it. At a time when Americans are still asking the question ‘Where are the jobs?’ why would we want to make it harder for small employers to hire people,” Boehner asked Wednesday at a press conference.
Source: Market Watch. Read full article. (link)