As a general rule prices in a capitalist society are already as high as they can be. Any higher and they would be undercut. When a company becomes large and therefore able to produce goods for less money, the price doesn't fall, profit margins increase.

These large businesses are the ones paying employees the federal minimum wage. Only thing that happens is their profit margin shrinks a tiny amount. As long as the profit margin is in the black the business will continue to operate.

It puts more money into the pockets of consumers, who are the drivers of the economy.