A federal minimum wage is "a terrible idea" that hurts small businesses, White House economic advisor Larry Kudlow said Thursday.
With midterm elections less than a week away, speculation is building as to what changes might be in store in Washington, D.C. Specifically, Kudlow was asked during a forum on small business how the administration would respond if Democrats press for a $15 an hour national minimum wage. Polls indicate the House is likely to flip Democratic though the Senate is likely to stay Republican.
"My view is a federal minimum wage is a terrible idea, terrible, and will damage particularly small businesses," he told a questioner from The Washington Post, which presented the event. "To force them to kind of take a payroll increase would be silly."
He made the remarks a day before the Labor Department will report October nonfarm payrolls growth. Some economists suspect average hourly earnings will grow more than 3 percent for the first time since the Great Recession.