Raising the federal minimum wage to $15 per hour by 2025 could boost pay for 17 million people, according to Congressional Budget Office estimates.
It could also cause 1.3 million people to lose jobs.
House Democrats could vote on a plan to hike the federal minimum wage to $15 per hour later this month.
Hiking the U.S. minimum wage to $15 per hour would give millions of Americans a raise but put a smaller share of people out of work, according to projections released Monday. Raising the pay floor to $15 per hour by 2025 would boost wages for 17 million workers, the nonpartisan Congressional Budget Office estimated. At the same time, 1.3 million people would lose jobs, according to the CBO projections.
The complete story here > $15 minimum wage would boost pay for 17 million but 1.3 million would lose their jobs, CBO says