Servers And Bartenders Say No To Tip Credit Elimination

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Servers And Bartenders Say No To Tip Credit Elimination
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Today, Congress plans to introduce legislation to raise the federal minimum wage to $15 an hour and eliminate the tip credit. The Restaurant Workers of America — a grassroots organization of tipped restaurant workers across the country — recently criticized President Biden for including this misguided policy in his COVID-19 relief plan. Now, we’re calling out Congress for the same shortsightedness.

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President Biden Threatening To Overhaul Tip Credit System

In conjunction with the bill, today RWA is releasing a video featuring server testimonials from across the country. These workers have all thrived under the current tipped wage system that President Biden and now Congress are threatening to overhaul.

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You can watch the video here. Additional server testimonials, including a server from President Biden's home state of Delaware, can be viewed here: https://ourindustryourvoice.com/

Maggie Raczynski, a bartender from New York, released the following statement:

"I stood alongside thousands of servers in New York to fight this idea, and we fought it successfully. We turned out in large numbers because we don't want the tip credit eliminated. That's our message to Congress and President Biden: We don't want this."

Joshua Chaisson, a veteran restaurant worker in Portland, ME, and vice president of RWA, released the following statement:

"Countless restaurant workers -- myself included -- were displaced due to COVID. As the industry starts to recover, we need lawmakers who understand that tipping and tip credits are essential for employees and employers."

Simone Barron, a restaurant worker from Seattle, WA, released the following statement:

"I've experienced first-hand the consequences of no tip credit, having lost my job and seen my restaurant close because of Seattle's unrealistic wage mandates. Restaurant workers support the tipping system, and tip credits -- which our lawmakers would understand if they spent more time talking to us and less time talking to labor groups."

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)www.valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver
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