Democrats Just Voted to Hike Minimum Wage, Potentially Killing 3.7M Jobs | NTK Network Democrats Just Voted to Hike Minimum Wage, Potentially Killing 3.7M Jobs

Democrats Just Voted to Hike Minimum Wage, Potentially Killing 3.7M Jobs

The House voted, 231-199, to increase the federal minimum wage to $15 per hour, a move that the CBO warned could kill millions of jobs.

By NTK Staff | 07.18.2019 @12:19pm
Democrats Just Voted to Hike Minimum Wage, Potentially Killing 3.7M Jobs

The U.S. House of Representatives voted Thursday to raise the federal minimum wage from $7.25 per hour to $15 per hour.

The bill passed largely along party lines, with 228 Democrats voting for the bill and 192 Republicans voting against it.

Raising the minimum wage to $15 has long been a Democratic Party priority. Sen. Bernie Sanders (I-VT) was among the first to champion the idea on a national stage during the 2016 Democratic primary.

But a recent study by the Congressional Budget Office found that raising the federal minimum wage to $15 per hour would have a potentially devastating effect on the U.S. workforce.

According to the study, a $15 minimum wage would result in about 1.3 million people becoming jobless with the potential for that number rising to at least 3.7 million.

Instead of giving families that depend on minimum wage jobs a boost, the CBO study found that the net effect of a $15 minimum wage hike would be a $9 billion reduction in real family income by 2025, per Michael Saltsman, a senior vice president at Berman and Company.

The bill is unlikely to receive support in the U.S. Senate, which is controlled by Republicans, or possibly even a vote. It’s also unlikely that President Trump would sign such a bill.

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