The Progressive


A project of Common Dreams

For Immediate Release

Sam Quigley,, 202-446-0489

Patriotic Millionaires: Governor Hogan's Veto of $15 Minimum Wage Bill Pandering to Special Interests

“The Governor is woefully behind the times with his misguided veto”


Yesterday evening, Maryland Governor Larry Hogan vetoed a bill, passed in wide margins by both chambers of the Maryland General Assembly, to raise the state's minimum wage to $15 an hour by 2025. Each chamber voted for the bill in margins that can and will likely override the veto from Hogan. In response, Morris Pearl, Chair of the Patriotic Millionaires and former managing director at BlackRock, Inc., the world's largest asset manager, gave the following statement:

"The Maryland General Assembly is right to help all of the people in their state by raising the minimum wage, and the Governor is woefully behind the times with his misguided veto. Business leaders and investors alike will gladly invest in Maryland under this law, because what they really need are customers with enough income to drive consumer growth. This veto is a blatant attempt to pander to the few business owners who are more concerned about short-term profits than about the long-term welfare of their workers and Maryland's economy - the real special interests in Maryland. Forcing the legislature to override his veto with such an overwhelming base of support in both chambers and in the public as a whole is a waste of everyone's time, and only delays the inevitable."

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The Patriotic Millionaires is a group of high-net worth Americans who share a profound concern about the destabilizing level of inequality in America. Our work centers on the two things that matter most in a capitalist democracy: power and money. Our goal is to ensure that the country's political economy is structured to meet the needs of regular Americans, rather than just millionaires. We focus on three "first" principles: a highly progressive tax system, a livable minimum wage, and equal political representation for all citizens.

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