Biden had said in a CBS interview on Friday that he did not expect the minimum wage plan to be part of the coronavirus package due to Senate rules
WASHINGTON: U.S. President Joe Biden's plan to raise the minimum wage to $15 per hour by 2025 would cut employment by 1.4 million jobs that year and increase the budget deficit by $54 billion over the next 10 years, the Congressional Budget Office said on Monday.
In its cost assessment of Biden's "Raise the Wage Act of 2021," the non-partisan legislative budget referee agency said that the minimum wage increase also would lift 900,000 Americans out of poverty in 2025.
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