Sen BernieSanders announced an ambitious plan that would more than double the federal minimum wage to $17 per hour. Sanders announced the proposal outside of the Capitol Building on Thursday, flanked by union leaders and workers.
Sanders announced the proposal outside of the Capitol Building on Thursday, flanked by union leaders and workers. The move would dramatically affect the business world.“The reason we are assembled here this morning is not complicated. In the year 2023, in the richest country in the world, nobody should be forced to work for starvation wages,” Sanders said at a news conference. “That’s not a radical idea. You work 40, 50 hours a week, you should not be living in poverty.
If passed, the plan would hike the minimum wage to $17 in every single state, although some states have already adopted their own minimum wages that are close to that level. Proponents of higher minimum wages say that the federal threshold is so low that it results in poverty for many families. The federal minimum wage has lost nearly 30% of its purchasing power since it was last hiked in 2009, according to the Economic Policy Institute.
The business-aligned Employment Policies Institute said in a statement about the legislation that raising the minimum wage to $17 would result in the loss of millions of jobs and worsen inflationary pressure.
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