Survey: Oklahomans cutting spending as prices rise
A May survey of 645 Oklahomans found most households say everyday expenses have become harder to afford over the past year.
A May survey of 645 Oklahomans found most households say everyday expenses have become harder to afford over the past year.
The organizations said the measure’s automatic wage escalator would create long-term uncertainty for Oklahoma employers and workers.
The findings add context to concerns from restaurant owners who say higher labor costs could force more price increases and hurt small businesses.
Frank Santori, minority owner of Pho Bistro in Edmond, said the proposal would force difficult decisions on prices, jobs and restaurant operations.
JJ Francais said the minimum wage state question could create new cost pressure for municipalities, businesses and middle-class workers.
A Greater Oklahoma City Chamber panel examined the potential economic effects of Oklahoma’s minimum wage state question.
A new survey of 166 U.S. economists found broad concern that higher minimum wages could reduce youth jobs, increase automation and make it harder for small businesses to stay open.
Senate Bill 985 creates a framework to connect Oklahoma schools with locally produced agricultural products.
The Oklahoma Farm Bureau publication warns the minimum wage proposal could raise costs for farmers, ranchers, small businesses and consumers.
The Chamber says the proposal’s phased wage increases, expanded coverage and automatic CPI-W escalator could create long-term cost pressure for Oklahoma businesses.
The report says current and former municipal officials are raising concerns that wage mandates could lead to higher taxes, utility rates or service cuts.
CPI-W is the federal index named in the ballot title for automatic annual minimum-wage increases beginning in 2030.