Walmart CEO Says Wage Hike Should Consider Regional Economics

Walmart Inc. Chief Executive Officer Doug McMillon said the US 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.