GUAM—Answering Gov. Eddie Calvo’s call to compromise, Sen. Mike San Nicolas introduced on Friday Bill 322-32 to raise the minimum wage in Guam by $0.95 per year for three years, as proposed by Vice Speaker BJ Cruz in Bill 316, and lower the Business Privilege Tax from 4 percent to 3.8 percent as proposed by Calvo.
“Raising the wages of workers will put more money in their pockets. They’ll be able to afford to do more, buy more and invest more,” said Calvo in editorial published in the Pacific Daily News.
“I appreciate that Governor Calvo and all the Republican senators recognize that both employees and employers are a vital part of our community and this compromise helps both our businesses and the hard workers that make them successful,” said San Nicolas.
“This compromise between both parties and both branches of government shows that when government works together, we can all win,” said San Nicolas.
Calvo’s proposal would cut Business Privilege Taxes by an estimated $12.9 million, which Calvo intends to help businesses afford the minimum wage increase.