Progressives Dispute Cbo Analysis That 15 Minimum Wage Will Hurt Job Numbers
The findings by the Congressional Budget Office, released on Monday, outlined possible scenarios under President Joe Biden’s plan to raise the minimum wage to $15 an hour by 2025. Biden’s Raise the Wage Act of 2021 would benefit 27 million workers and lift 900,000 people out of poverty with a net increase in wages over a decade of $333 billion, the CBO said. However, higher wages would raise prices for consumers and employers would move to automate more roles, leading to about 1....