Minimum Wage Bill Could Eliminate 1.3 Million Jobs, CBO Says

According to a newly released Congressional Budget Office report cited by Politico Pro , Democrats' signature policy proposal to hike the federal minimum wage would cost roughly 1.3 million jobs nationwide, even as it boosts wages for approximately 17 million workers and lifts 1.3 million households out of poverty. The study offers the most detailed analysis yet of the proposed $15 hourly federal wage. But it represents a decidedly mixed bag for House Democratic leaders, who are only days away from putting the legislation on the floor after recently winning enough support from across the caucus. The Democrats' bill would phase in the $15 minimum over five years. Not surprisingly, GOP legislators were quick to jump on the potential job losses. Chief among them is Rep. Steve Womack (R-Ark.), the top Republican on the House Budget Committee who requested the CBO score. He remarks, "I urge House Democrats not to advance a proposal that would unravel progress and hurt millions of families in the process."