Should we increase the federal minimum wage to $15 an hour by 2024?
Bill Summary
Gradually increases the federal minimum wage to $15 an hour by 2024 and grants a payroll tax cut to small businesses that raise wages ahead of schedule.
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Opponents say
• Helps businesses and workers in high-wage areas more than in low-wage areas
• Prevents low-skilled workers from getting a foothold in the labor market
• Condemns low-skilled workers to prolonged dependency on government benefits
• Businesses will respond by either reducing employment or increasing costs to the consumer
• Prevents low-skilled workers from getting a foothold in the labor market
• Condemns low-skilled workers to prolonged dependency on government benefits
• Businesses will respond by either reducing employment or increasing costs to the consumer
