Guam Chamber of Commerce stands against minimum wage increase - KUAM.com-KUAM News: On Air. Online. On Demand.

Guam Chamber of Commerce stands against minimum wage increase

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The Guam Chamber of Commerce will oppose any increase in the minimum wage. Chamber President Catherine Castro says a hike will mean that many companies will be forced to hire fewer employees, and put off any business expansion or improvements.

Sen. Joe S. San Agustin is seeking public input on raising the minimum wage from $8.25 to $9.25 by next January. He says corporations got a 14 percent break under the Trump tax reforms and that's not filtering down to employees.

But Castro says those savings have been offset by local tax hikes.

"Since the last minimum wage increase, we have had a Business Privilege Tax increase, we have implemented the TESS law, we have had a recent real estate tax that has gone up for real properties of $1 million or more," she said. "All of these things when you combine them all together, they're going to impact the consumer." 

"You can't just continue to tax the people," Castro said. "The government has to do its part too. They need to cut, and they need to make some hard decisions. It seems like the only ones who are doing that are the business community."

She says the Chamber will be organizing opposition to any proposed bill and will push for an economic impact study to be done.

Meanwhile, in an interview with KUAM, Gov. Leon Leon Guerrero says she supports a minimum wage increase.

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