Republican presidential candidate Mitt Romney told CNBC host Larry Kudlow that he was against raising the federal minimum wage, which is currently $7.25 per hour (video below).
Romney previously said that he supported automatic increases in the federal minimum wage based on inflation.
Romney said that as Governor: “I vetoed it and I said, look, the way to deal with minimum wage is this: On a regular basis, I said in the proposal I made, every two years, we should look at the minimum wage, we should see what’s happened to inflation, we should also look at the jobs level throughout the country, unemployment rate, competitive rates in other states or, in this case, other nations."
“So, certainly, the level of inflation is something you should look at and you should identify what’s the right way to keep America competitive. So that would tell you that right now, there’s probably not a need to raise the minimum wage.”
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“What I can tell you is had one indexed the minimum wage back to 1990, the minimum wage would be lower now than it actually is. Democrats make big hay of this. Every few years, ‘oh, we’re going to raise the minimum wage’ and get a lot of hoopla for it.”