A CBO Report on the Minimum Wage

The Congressional Budget Office is a nonpartisan agency in the legislative branch that analyzes budget proposals put forward by members of Congress. Earlier this year, it evaluated the merits and drawbacks of a $15 an hour minimum wage.

Firstly, the study looks at negative effects, specifically that of employment. The report estimates that employment could decrease by 1/7% over a decade on average, with an estimated high of 3.3%. Secondly, the study examines more positive effects, such as increased real income, reduced poverty rates (with a chance of a high of a 3.3% reduction), and the number of workers whose wages would go up.

Overall, it is a very straightforward study, and one that is useful when covering the wage debate. You can read it here: https://www.cbo.gov/publication/55681

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