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Walmart CEO backs higher federal minimum wage

June 06, 2019 / Ryan Golden

Doug McMillon, CEO of Walmart, the world's largest private employer, called on Congress to raise the federal minimum wage during remarks at the company's annual shareholder meeting Wednesday. "$7.25 is too low," McMillon said. "It's time for Congress to put a thoughtful plan in place to increase the minimum wage." Walmart's current minimum hourly wage for store associates is $11 an hour. McMillon said any plan to raise the minimum wage should take both phasing and cost of living into account. He also said Walmart has invested an "incremental $4.5 billion" in employee pay beyond traditional wages for its U.S. store and club associates. McMillon spoke amid heightened public attention around Walmart's shareholder meeting due in part to the presence of presidential candidate Sen. Bernie Sanders, I-Vt., who also spoke at the event, according to a report from NPR.