Congressional Budget Office

CBO Report Offers Mixed Message on Minimum Wage Hike

Posted on 02/20/2014 by | Washington Watch | Comments

Bulletin Today | PoliticsA new report by the Congressional Budget Office offers fodder for both sides of the debate about raising the nation’s $7.25-an-hour minimum wage. Democrats are cheering the nonpartisan agency’s finding that a proposal to raise the minimum wage to $10.10 would lift about 900,000 low-wage workers out of poverty. But Republicans say that what’s important is the report’s estimate that 500,000 jobs would disappear as businesses adjust to the new wage. The CBO found smaller impacts from a wage hike to …