The battle over whether to increase the minimum wage is ramping up in Congress with the House passing the Raise the Wage Act. The bill gradually raises the federal minimum wage over the course of six years to $15.00 by 2025. Not surprisingly, it has big support among the Democratic base.
But according to the Congressional Budget Office (CBO), while raising the minimum wage would increase wages for millions of people, it would also cause 1.3 million Americans to lose their job. The report concluded that “For most low-wage workers, earnings and family income would increase, which would lift some families out of poverty. But other low-wage workers would become jobless, and their family income would fall—in some cases, below the poverty threshold.”
In other words, the Raise