Patriotic Millionaires Challenge Walmart on Linking Wage Increases to Tax Bill

Thursday, January 11

For Immediate Release

January 11, 2018

Contact: Sam Quigley

[email protected]

202-446-0489

“These companies aren’t raising pay because they want to”

 

Washington, DC – This afternoon, in response to Walmart’s announcement that it is going to be raising its minimum hourly wage for US employees to $11 as a result of the GOP tax bill, the Chair of the Patriotic Millionaires Morris Pearl, former Managing Director at BlackRock, Inc., issued the following statement:

“The decision by Walmart and other companies to implement raises they’d already planned and credit it to the GOP’s corporate tax giveaway is politics at its most cynical. Companies were already raising wages even before the tax cut passed in response to a tight labor market, grassroots pressure from groups like the Fight for $15, and the rush of minimum wage hikes from California to New York. Take it from those of us on the inside: these companies aren’t raising pay because they want to. They’re doing it because working people stood up and demanded more.”

To schedule an interview or for further comment, please contact Sam Quigley at [email protected].

 

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About the Patriotic Millionaires

Proud “traitors to their class,” members of the Patriotic Millionaires are high-net worth Americans, business leaders, and investors who are united in their concern about the destabilizing concentration of wealth and power in America. The mission of The Patriotic Millionaires organization is to build a more stable, prosperous, and inclusive nation by promoting public policies based on the “first principles” of equal political representation, a guaranteed living wage for all working citizens, and a fair tax system. You can find out more at http://patrioticmillionaires.org/about/

The Patriotic Millionaires have appeared on hundreds of media outlets here and abroad, including The Daily Show with Jon Stewart, the PBS NewsHour, The New York Times, Washington Post, CNN, MSNBC, Fox News, and many others. You can find more coverage at http://patrioticmillionaires.org/media

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