RELEASE: Mike McFadden Wrong On Federal Minimum Wage

Mike McFadden Wrong On Federal Minimum Wage
Investment banker not only opposes raising the federal minimum wage, he’d eliminate it

ST. PAUL [9/24/14]— Today, Sen. Franken met with Nuns on the Bus, a group of Catholic nuns committed to fighting for social and economic justice, and spoke about his fight to raise the federal minimum wage on behalf of middle class families. This stands in stark contrast to investment banker Mike McFadden.

McFadden has told Minnesotans time and again that he would put profits over people and not only oppose raising the federal minimum wage, but that he would do away with it altogether.

“Eliminating a critical safeguard like the federal minimum wage just shows how out of touch Mike McFadden is with the struggles of middle-class families,” said Alexandra Fetissoff, Franken campaign spokesperson. “Bottom line: Mike McFadden will always put profits over people.”

McFadden told MinnPost in May that he does not support an increase in the federal minimum wage and has said repeatedly that if it were up to him he would eliminate it, saying “there shouldn’t be a single federal wage” and that it “doesn’t make sense.”

Sen. Franken is fighting to raise the federal minimum wage for the first time in five years because he believes no one should work full time and live in poverty.

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McFadden Opposes Increasing The Federal Minimum Wage

McFadden Opposed Raising The Federal Minimum Wage. In May 2014, MinnPost asked McFadden, “So you don’t support a federal increase?” He responded, “Yeah that would destroy jobs.” [MinnPost, 5/12/14]

McFadden Is Opposed To The Very Idea Of A Federal Minimum Wage

April 2014: McFadden Said It Was “Problematic That You Would Have One Single Wage That Would Be Across The Whole Country.” In an April 2014 press conference, McFadden was asked about whether he supported raising the federal minimum wage. He replied, “I think, first of all I think the minimum wage is a very important safe guard. I do find it problematic that you would have one single wage that would be across the whole country, I think New York has much different economic forces and issues that they’re facing than Minnesota, than Nebraska, than California.” [McFadden Press Conference, 4/10/14]

Pioneer Press: McFadden “Said There Shouldn’t Be A Single Federal Wage In Place For Every State.” According to the Pioneer Press. “Minimum wage: [McFadden] Called it ‘a very important safeguard.’ Said there shouldn’t be a single federal wage in place for every state, but took no position on the bill moving through the Minnesota Legislature that would raise it to $9.50 and then link it to inflation. ‘That’s a state issue.’” [St. Paul Pioneer Press, 4/10/14]

April 2014: McFadden Said, “The Idea That You Have One Wage That Is Applied Across The Whole Country Doesn’t Make Sense To Me.” In an April 2014 interview with WCCO Radio, McFadden was asked if he supported raising the federal minimum wage to $10.10 per hour. McFadden responded, “Chad, it’s a great question. And I will support anything that produces jobs and generates jobs and the minimum wage has been an important safe guard. I happen to believe uh it’s much, it, it, it, makes much more common sense to me that it’s something that’s decided locally as opposed to at the federal level. Uh, the idea that you have one wage that is applied across the whole country doesn’t make sense to me.” [WCCO Radio, 4/16/14]

May 2014: McFadden Said, “It Concerns Me That The Government Dictates A Wage Across The Whole Country.” In a May 2014 interview with MinnPost, McFadden was asked if he supported an increase in the federal minimum wage. He replied, “I support anything that increases wage and increases jobs. My concern is two-fold: One is federal versus state. It concerns me that the government dictates a wage across the whole country. As we all know, the factors that we face in Minnesota are dramatically different than New York or California or Alabama.” [MinnPost, 5/12/14]

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