The investor who pushed California's minimum wage measure is 'disappointed' by the defeat

Joe Sanberg, a businessman and anti-poverty advocate who led the state's recently defeated ballot measure to raise California's minimum wage, said he was “devastated and disappointed” by the loss, but vowed to continue to advocate for struggling Californians.

Proposition 32, which would have raised the federal minimum wage from $16 to $18 an hour by 2026, narrowly failed at the ballot box by 50.8% to 49.2%.

The initiative was pushed by Sanberg, a progressive business leader, investor and founder of the socially responsible financial company Aspiration.

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“I thought it was going to pass in a small area,” he told Fox News Digital. “I'm frustrated and disappointed that we lost a little bit. I also realize that… people are very angry and frustrated because of the inflation, and they don't know who and where to blame.”

“We should all be able to agree that if you work full time, you must be able to pay for the needs of life,” he added. “And there are millions of Californians for whom that is not the case.”

Advocates of Prop 32 say that about two million workers, including hotel and restaurant workers, should benefit from this measure, the Associated Press reported.

In recent years, California has raised its minimum wage in an effort to offset the rising costs of housing, gas and other necessities. In April, fast-casual restaurants in the state with 60 or more locations were authorized to begin paying their workers at least $20 an hour.

Business groups, including the California Chamber of Commerce, California Restaurant Association and California Grocers Association, oppose Prop 32, saying higher labor costs will hurt small businesses, and lead to higher prices for customers.

“It's understandable that policymakers, even many in California, may be attracted and attracted to the idea of ​​a few extra dollars in someone's pocket, but unfortunately, they didn't seem to understand the economic fallout of that kind of idea,” John Kabateck. California director of the National Federation of Independent Business, told Fox News Digital.

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Proposition 32, which would have raised the federal minimum wage from $16 to $18 an hour by 2026, narrowly failed at the ballot box by 50.8% to 49.2%. (Patrick T. Fallon/AFP via Getty Images)

Opponents also say raising the minimum wage too soon could lead to job losses.

“If a worker loses a job, or a company goes out of business, the wage is ZERO DOLLARS AN HOUR,” business leaders wrote in their official ballot.

Sanberg has spent years advocating for anti-poverty legislation and raising awareness of California's tax credit that helps lift people out of financial uncertainty. Despite losing at the ballot box, Sanberg said he remains optimistic.

He noted that in Imperial County, located east of San Diego on the California-Mexico border, President-elect Trump made significant gains with voters, although Vice President Kamala Harris won the number of votes there.

“It's clear that working-class voters are on board with raising the minimum wage. To me, that sends a message about how we can make bipartisanship work to make work pay better,” Sanberg said.

Moving forward, Sanberg, who grew up with a single parent who struggled financially, said he plans to continue to encourage workers to earn better wages so that they can at least pay for basic services.

“I'm open to all ways to get us to that result. But that's the result we have to pursue. I don't think we can be satisfied with anything less than that,” he said. “What's more in America than the idea of ​​working full-time and knowing you can afford your house, your transportation, your food and your health care?”

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“That's not some wish. That's a basic agreement that I think all Americans are taught to believe we have with each other,” he added. “I think that deal has been broken for a long time for tens of millions of working people across the country.”