The Congressional Budget Office says raising the minimum wage to $15 would eliminate 1.3 million jobs nationwide, while giving 17 million workers raises and lifting families out of poverty.
The bill in question, sponsored by Rep. Bobby Scott , would phase in a $15 hourly minimum over five years and would index future increases to inflation. The legislation would eliminate lower minimum wages permitted now for tipped workers, workers with disabilities and workers younger than 20.
Seventeen million people would see their wages rise under the bill, and another 10 million people who earn slightly more than $15 might also end up earning more money, according to the CBO. It would also help move 1.3 million people out of poverty, most of whom are without a high school diploma. The bill would reduce total real income by about $9 billion by 2025, the CBO report said: Most workers would see their pay increase, but some groups — namely business owners and consumers — would lose some income.
Democratic leaders have planned to put their signature $15 minimum wage bill on the floor within weeks, after
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