Wednesday, July 17, 2019
The Congressional Budget Office released a report earlier this month estimating the effects that raising the federal minimum wage might have. The report offered rich pickings to both sides in the debate.
Ben Zipperer of the liberal Economic Policy Institute argued that the "main takeaway"from the report was that increasing the national wage floor from its current level of $7.25 to $15 by 2025 "would raise wages of up to 27.3 million low-wage workers, decrease income inequality, and reduce the number of families in poverty by 1.3 million," while simultaneously eliminating 1.3 million jobs.
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