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WASHINGTON — Sen. Josh Hawley, R – Missouri, announced his plan to require companies to pay their employees $15 per hour if they make $1 billion or more in revenue.

“For decades, the wages of everyday, working Americans have remained stagnant while monopoly corporations have consolidated industry after industry, securing record profits for CEOs and investment bankers,” Hawley said.

His plan would increase wages for millions of workers while “avoiding a one-size-fits-all increase” that would disproportionately impact smaller businesses.

“Mega-corporations can afford to pay their workers $15 an hour, and it’s long past time they do so, but this should not come at the expense of small businesses already struggling to make it.”

For small businesses, Hawley recently introduced the Blue Collar Bonus, a bonus given to every worker making below the median wage as an advanceable tax credit.

Hawley’s plan requires the indexing of the federal minimum for billion-dollar companies in 2025.