D.C. Mayor Vincent Gray vetoed the Large Retailer Accountability Act, and on Friday he appeared on CNBC to talk more about the so-called living wage bill and his veto, calling it a “job killer.”
The measure would have required big-box retailers like Wal-Mart Stores Inc. and Costco Wholesale Corp. – or those with at least 75,000 square feet and a parent company that earns a minimum of $1 billion annually — to pay a minimum wage of $12.50 an hour to employees. Gray said the bill would have covered only a very narrow category of retailers and would lead large companies to locate just outside the District instead of inside the city. Economic development officials, Gray said, estimated that the District would have lost between 4,000 to 4,500 jobs.
Click here to see the video on CNBC’s website, or view it below.