10/7/2023 0 Comments Congressional budget office jobsSounding the alarm: Joe Biden calls women out of work, kids out of school a 'national emergency' “Apparently, that’s not going to occur,” he said in an interview with "CBS Evening News With Norah O’Donnell."īut Biden also told O’Donnell he is prepared to negotiate a separate proposal to boost the minimum wage to $15 per hour. Joe Manchin, D-W.Va., a crucial swing vote in the Senate, also has said he opposes a $15 minimum wage, raising doubts about whether it can be increased through Biden's COVID-19-relief plan.īiden conceded late last week that the minimum wage proposal is unlikely to survive as part of his COVID-19 package. Some bipartisan concern over raising the minimum wageīiden advocated for raising the minimum wage during last year’s presidential campaign and has proposed boosting the hourly rate to $15 as part of his COVID-19-relief package.Ĭongressional Republicans and others, however, have raised concerns about raising the minimum wage. “He believes any American who is working a full-time job trying to make ends meet should not be at the poverty level, and it's important to him that the minimum wage is raised,” Psaki said. Bobby Scott said, D-Va., chairman of the House Education and Labor Committee.Īt the White House, press secretary Jen Psaki said Biden remains “firmly committed” to raising the minimum wage to $15 per hour. “This nonpartisan report shows that increasing the minimum wage will act as a direct and targeted stimulus for struggling workers and their families," said Rep. ![]() Supporters of a $15 minimum wage argued the report strengthens the case for raising the hourly pay rate, which currently stands at $7.25 and hasn’t been raised since 2009. Tax relief: Democrats propose tax credit of up to $3,600 per child in Joe Biden's COVID-19 relief plan Meanwhile, the Employment Policies Institute, which is backed by the restaurant industry, says the report confirms that “a $15 minimum wage is a terrible idea.” ![]() The left-leaning Economic Policy Institute, among other worker advocates, disputed some of the CBO’s findings, arguing there would be little to no effect on employment and the budget deficit would shrink rather than grow. The report is likely to further fuel the debate over whether the minimum wage should be raised as part of a package that President Joe Biden is asking Congress to approve to help Americans and businesses recover from the economic fallout of the coronavirus pandemic. ![]() That is because higher wages would increase the cost of producing goods and services and, in response, many employers would reduce their workforce or hire fewer employees, the report said. The report, released Monday by the nonpartisan Congressional Budget Office, concluded that boosting the minimum wage to $15 per hour would raise income for millions of Americans and lift 900,000 people out of poverty.īut by 2025, when the hourly rate would hit $15 under a proposal before Congress, some 1.4 million fewer Americans would be working, the report concludes. WASHINGTON – A new government report offers fresh ammunition for both sides of the debate over raising the federal minimum wage to $15 per hour. ![]() Watch Video: Minimum wage: Why Biden wants to raise it and its effect on the economy
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