Walmart CEO Says Wage Hike Should Consider Regional Economics
- Retailer’s top official says U.S. must move quickly on crises
- McMillon, also chair of Business Roundtable, speaks at event
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Walmart Inc. Chief Executive Officer Doug McMillon said the U.S. needs to confront its health and economic crises -- but added he doesn’t support a universal $15 minimum wage.
President-elect Biden’s $1.9 trillion plan would raise the federal minimum wage to $15 an hour from the current level of $7.25, which is “too low,” McMillon said during a media briefing with Business Roundtable CEO Josh Bolten. But instead of setting a uniform nationwide level, McMillon called for a higher wage that takes into account “geographic differences” and “small business.” Congress should find the “right pace” for wage increases, said McMillon, who is serving as chairman of Business Roundtable.