Business in brief: Senate panel OKs tax breaks

Tax breaks aimed at easing the burden on small businesses of increasing the minimum wage sailed through the Senate’s tax writing committee Wednesday.

The unanimous voice vote by the Finance Committee paves the way for the full Senate to consider boosting the minimum wage to $7.25 over the next two years.

The minimum wage plan is next in line for floor debate after the Senate wraps up work on an ethics and lobbying reform bill.

The tax provisions help restaurants, retailers and those hiring welfare and food stamp recipients, as well as difficult-to-hire people such as ex-convicts and the disabled.

Detroit

Ford suppliers in financial straits

Ford Motor Co. purchasing chief Tony Brown said Wednesday that the company’s “watch list” of financially distressed auto parts suppliers has grown 44 percent over the past year.

Brown, in prepared remarks for a speech at an auto industry conference in Detroit, said that a supply industry restructuring “has to happen.”

Ford is shrinking its own chain of suppliers, which likely will put more suppliers out of business, he said.