For Immediate Release

Organization Profile: 
Contact: 

Sam Quigley, sam@patrioticmillionaires.org, 202-446-0489

Walmart CEO's Call for Higher Minimum Wage Shows That Raising the Wage "Isn't Just a Win for Workers, It's a Win for Businesses Too"

WASHINGTON - Today, Walmart CEO Doug McMillon called on Congress to raise the federal minimum wage at the Walmart annual shareholders meeting. In response, Morris Pearl, former managing director at BlackRock, Inc., and Chair of the Patriotic Millionaires, issued the following statement:

 "Walmart's CEO is right, we need to raise the minimum wage. It's great to see Doug McMillon calling on Congress to raise the federal minimum wage. McMillon's statement shouldn't come as a surprise - a higher minimum wage means millions more consumers with more disposable income to spend at stores like Walmart. The growing ranks of business leaders calling for a higher federal minimum wage should make it clear that raising the wage isn't just a win for workers, it's a win for businesses too. The additional consumer demand from millions of low wage workers getting a raise would be an incredible boost to virtually every company in the United States. It's far past time we raise the federal minimum wage to $15 an hour.
 
 McMillon's support for raising the wage, along with Walmart's commitment to paying all of its employees at least $11 an hour, is a great start. But it's not enough. We don't need to just raise the minimum wage, we need to raise it to $15 an hour, and to truly support workers McMillon needs to say that number. More than that, as the the largest employer in America, Walmart should take the initiative to pay each of its employees at least $15 an hour without being required to by the federal government."
 
 For further comments or questions, please contact Sam Quigley at sam@patrioticmillionaires.org
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