If the House passes the bill, it would mark the most significant step toward raising the federal minimum wage since 2009, the last time the pay floor increased.
div > div.group > p:first-child"> The House Committee on Education and Labor advanced a bill to raise the U.S. wage floor to $15 per hour by 2024. House Speaker Nancy Pelosi supports the legislation and plans to bring it to an eventual vote in the full Democratic-held chamber.The legislation has only a slim chance of becoming law. Republicans in the GOP-held Senate — like their colleagues in the House — will likely oppose it.
Democrats say the legislation would give nearly 40 million American workers a raise. They argue the increase will help laborers better keep up with rising costs of living, and boost the economy by giving those workers more money to spend. Under the bill, after the pay floor rose to $15 per hour in 2024, it would continue to climb in line with median wage growth.
Republicans have argued the plan would hurt small business owners by increasing costs. It would force them to cut positions and hours for low-wage workers, potentially increase automation, critics contend. "Going from a $7.25 an hour federal minimum wage to a $15 an hour minimum wage is, at best, a foolish policy proposal," committee ranking member Rep. Virginia Foxx, R-N.C., said Wednesday."At worst, it's an intentionally dishonest political stunt that promises bigger paychecks to hardworking Americans when in reality it would result in significant job losses for millions of hourly workers around the country.
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