The extremely nonpartisan CBO determines that a federal minimum wage hike would add to the numbers of people living in poverty
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The Act would raise the federal minimum wage from $7.25 an hour presently to $15 an hour by 2026. The rise would take place in steps mandated for each intervening year. Once at $15 and hour, the minimum would rise in tandem with the median wage for all workers. The law would also raise the tipped cash minimum wage in larger steps from just over $2 on hour presently to some $12 an hour in 2026.
A different way to look at these counterproductive effects lies in the legislation’s plans to eliminate subminimum wages for teens and the disabled. No doubt in today’s social climate, such subminimums must seem like a straightforward discrimination. But that is not why they were originally put in place . The reasoning behind them was to encourage employers to hire the young and the disabled.
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