An Increased Minimum Wage Would Benefit Nearly 40 Million Americans

From the Economic Policy Institute (http://www.epi.org/):

Ten years have passed since Congress raised the federal minimum wage to $7.25 per hour, and it has “lost almost 15 percent of its value to inflation” since then, according to EPI’s David Cooper. Cooper’s latest report analyzes the impacts of the phased-in increases proposed in the Raise the Wage Act of 2019. Using EPI’s Minimum Wage Simulation Model, Cooper shows that increasing the minimum wage to $15 by 2024 would directly and indirectly lift wages for 39.7 million workers—equivalent to 26.6 percent of all U.S. workers. Women and single parents would disproportionately benefit. The wage increases would also help millions of Americans rise above the poverty line. Read the report at https://www.epi.org/publication/raising-the-federal-minimum-wage-to-15-by-2024-would-lift-pay-for-nearly-40-million-workers/.