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This week the Congressional Budget Office released an analysis of the Raise the Wage Act, which would raise the federal minimum wage to $15 an hour by 2025. The report found raising the wage would have many positive effects, but the email notifications that landed in my inbox focused on the same finding they always do: A minimum wage hike to $15 an hour would result in 1.4 million lost jobs. Sounds scary — especially to minimum-wage workers who lost their jobs in the pandemic.
But the actual facts are not so scary. The CBO details ⇒
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