Mar 17, 2014 5:52 PM
LOS ANGELES (AP) - An attempt to persuade California voters to approve a $12-an-hour minimum wage has stalled.
The Silicon Valley entrepreneur behind the idea - Ron Unz (UHNS') - said Monday that it was unlikely his proposal would qualify for the ballot in November.
Unz says he was unable to find donors to provide the money needed to gather more than 500,000 petition signatures that are required to bring the proposal to voters.
The maverick Republican is an unlikely champion for an idea often associated with Democrats. Unz is a former publisher of The American Conservative magazine and a former candidate for governor and U.S. Senate.
He argues the higher wage would boost the economy and lift low-paid workers from dependency on food stamps and other taxpayer assistance.
Unz says he's surprised and disappointed.
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