![]() ![]() Heidi Shierholz, the president of the left-leaning Economic Policy Institute, said at the press conference that the economic impact of an increase to the federal minimum wage is one of the most-studied subjects in economics. There is also the hurdle of the 60-vote threshold when Democrats have a slim 50-seat majority.Īnd with a Republican-controlled House, it’s unlikely to be brought up by House Speaker Kevin McCarthy, a California Republican. Senate “is going to push it as quickly and hard as we can,” but did not specify if it would be brought to the Senate floor for a vote. Sanders argued that the idea is popular regardless of party affiliation and cited Nebraska, a deep red state that approved an increase in the state minimum wage to $15 an hour, and Florida, which leans red but has also passed an increase in its minimum wage to $15 an hour by 2026. “You have billionaires who don’t know what to do with their money, buying yachts and going off into outer space, so the time is long overdue.” “Frankly, it is embarrassing for us to be here today and have to talk about a reality where people need to work two or three jobs to put food on the table for the kids,” Sanders said, surrounded by advocates for a higher minimum wage. That goal is a $2-an-hour increase from labor organizers’ past campaign of “Fight for $15.” Capitol, Sanders, a Vermont independent and chairman of the Health, Education, Labor, and Pensions Committee, said the panel will vote June 14 on a bill that would increase the federal minimum wage of $7.25 an hour to $17 an hour over a five-year period. Bernie Sanders on Thursday announced Democrats’ plans to mark up legislation to increase the federal minimum wage to $17 an hour, pointing to an increase in the cost of living. Read the full EPI report on the Raise The Wage Act of 2019: Raising the Minimum Wage to $15 by 2024 Would Lift Wages for 41 Million American Workers.U.S. Read the full NELP-EPI fact sheet on the Raise The Wage Act of 2019: Why America Needs a $15 Minimum Wage. Because lower-paid workers spend much of their extra earnings, this injection of wages will help stimulate the economy and spur greater business activity and job growth. A $15 minimum wage by 2024 would generate $144 billion in higher wages for workers and would also benefit their communities.For example, failure to adequately increase the minimum wage accounts for 48 percent of the increase in inequality between women at the middle and bottom of the wage distribution since 1979. A $15 minimum wage would begin to reverse decades of growing pay inequality between the lowest-paid workers and the middle class.Affected workers who work year round would receive a raise on the order of $3,000 a year-enough to make a tremendous difference in the life of a preschool teacher, bank teller, or fast-food worker who today struggles to get by on around $20,000 a year.Gradually raising the federal minimum wage to $15 by 2024 would lift pay for nearly 40 million workers-more than 26 percent of the U.S.THE BENEFITS OF GRADUALLY PHASING IN A $15 MINIMUM WAGE BY 2024 WOULD BE FAR-REACHING, LIFTING PAY FOR TENS OF MILLIONS OF WORKERS AND REVERSING DECADES OF GROWING PAY INEQUALITY Additional states-including Washington, Oregon, Colorado, Arizona, and Maine-have approved minimum wages ranging from $12 to $14.75 an hour.Since the Fight for $15 was launched by striking fast-food workers in 2012, five states and many other cities and localities have approved raising their minimum wages to $15 an hour.THE RAISE THE WAGE ACT FOLLOWS THE LEAD OF THE GROWING NUMBER OF STATES AND CITIES THAT HAVE ADOPTED SIGNIFICANT MINIMUM WAGE INCREASES IN RECENT YEARS ![]() Sunset the much-criticized subminimum wages for workers with disabilities employed in sheltered workshops and for workers under age 20.Phase out the outdated subminimum wage for tipped workers, which has been frozen at a meager $2.13 since 1991.After 2024, adjust the minimum wage each year to keep pace with growth in the typical worker’s wages.Raise the federal minimum wage to $8.55 this year and increase it over the next five years until it reaches $15 an hour in 2024.The Raise the Wage Act of 2019 would gradually raise the federal minimum wage to $15 an hour by 2024. The federal minimum wage is just $7.25 and has not increased since 2009. ![]()
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