Maryland State Wire

The Maryland House Economic Matters Committee recently conducted a hearing on HB 549, known as the Fair Wage Act of 2023. This proposed legislation aims to increase the minimum wage to $15 an hour by October 1, accelerating and intensifying the current schedule of wage hikes. The bill also proposes linking future increases to the Consumer Price Index for automatic annual adjustments.

The National Federation of Independent Business (NFIB), a prominent advocate for small businesses both in Maryland and nationwide, has expressed opposition to this bill. NFIB State Director Mike O’Halloran stated, “Maryland’s small business community is very concerned about HB 549. The minimum wage has already been increased twice since January 2022, and is set to rise again next January 1. This bill would now go further, hiking the minimum wage for a third time in 20 months, and do it even more steeply."

O'Halloran highlighted concerns about the potential impact on small businesses: "These accelerated hikes are simply unaffordable for many small businesses, and undoubtedly will cost lost working hours, eliminated jobs, and shuttered Main Street firms."

He further emphasized that such legislative proposals could exacerbate existing challenges faced by small business owners over recent years. These challenges include pandemic-related restrictions, inflationary pressures, supply chain issues, and labor shortages. According to O'Halloran: "This bill...will continue to squeeze job creators and make it less affordable to do business in Maryland."

The NFIB calls upon its members to voice their concerns regarding HB 549 through advocacy channels.