Raising the minimum wage would result in 1.4 million unemployed Americans.
That's according to a report from the nonpartisan Congressional Budget Office on raising the minimum wage to 15 dollars an hour, something President Biden wants to do in his COVID-19 relief bill.
Analysts concluded that it would cost the U.S. 54 billion dollars over ten years if wages are raised.
However, the reports also determined that the number of people experiencing poverty would be reduced by roughly 900 thousand.
Senator Bernie Sanders says he believes raising the minimum wage should be included a budget reconciliation bill, a move that would forgo GOP approval.
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