The released a highly anticipated analysis Monday projecting the effects of a $15 federal , finding it would raise pay for 17 million workers but leave 1.3 million fewer jobs.

The from the nonpartisan research arm of Congress will give fodder to both conservatives and liberals in the debate over hiking the minimum wage. are now pushing a bill that, over the course of several years, would raise the federal minimum wage to $15 per hour, while have successfully blocked any effort to increase it from its current level of $7.25 over the past decade.

Republicans are pouncing on the CBO’s predicted cutbacks by employers, saying the hike would eat into job gains made during the long economic expansion. “That

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