Democrats Introduce ‘Raise the Wage Act’

Lawmakers propose $15 federal minimum wage.

Democrats, on Jan. 16, introduced the Raise the Wage Act, which would gradually increase the federal minimum wage from $7.25 to $15 by 2024. After 2024, the bill would index the minimum wage to median wage growth.

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According to CNBC, the bill also looks to end provisions allowing employers in some cases to pay workers under age 20 or with disabilities less than the wage minimum.

While the bill may pass in the House, the GOP-held Senate is unlikely to approve the bill.

Business groups said a $15 an hour minimum wage would negatively impact small businesses.

Labor activists argued the minimum wage has not kept pace with the cost of living. CNBC pointed out that the U.S. minimum wage hit its peak in 1968 when it was $11.83 per hour in 2018 dollars, but has not come close to a similar level in decades.