A report from the Congressional Budget Office on Monday determined that a minimum wage hike to $15 an hour by 2025 could put up to 3.7 million Americans out of work.
“The federal minimum wage is $7.25 per hour for most workers. The Congressional Budget Office examined how increasing the federal minimum wage to $10, $12, or $15 per hour by 2025 would affect employment and family income,” the CBO report said. Here’s what the report found for raising the minimum wage to $15 an hour (emphasis added):
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