Corporations Like McDonald’s Don’t Believe Their Own Anti–Minimum Wage Talking Points
Restaurant chains have told their investors that a minimum wage hike wouldn't be a big deal — even as their corporate lobbying groups in Washington fight plans for a $15 minimum wage.

In January, McDonald’s CEO Chris Kempczinski told investors the company “developed quite a bit of experience” with minimum wage hikes at the state level, and they haven’t been a problem. (Jurij Kenda / Unsplash)
Big restaurant chains are telling investors that a national minimum wage hike wouldn’t be a big deal — even as their corporate lobbying groups in Washington fight plans for a $15 minimum wage.
“We share your view that a national discussion on wage issues for working Americans is needed — but the Raise the Wage Act is the wrong bill at the wrong time for our nation’s restaurants,” the National Restaurant Association wrote in a letter to congressional leaders in February. “The restaurant industry and our workforce will suffer from a fast-tracked wage increase and elimination of the tip credit.”
The following day, a top executive at Denny’s, one of the association’s members, told investors that gradual increases in the minimum wage haven’t been a problem for the company at all. In fact, California’s law raising the minimum wage to $15 by 2023 has actually been good for the diner chain’s business, according to Denny’s chief financial officer Robert Verostek.