CBO Warns Federal $15 Minimum Wage Will Cost Up to 3.7 Million Jobs Nationwide

Washington, D.C. (July 8, 2019)—Today, the Congressional Budget Office (CBO) released a report estimating the economic consequences of adopting a federal $15 minimum wage—a policy that is expected to be considered this month in the form of the Raise the Wage Act. The CBO report predicts that up to 3.7 million jobs will be lost as a result of increasing the government-mandated wage floor to $15 an hour. Moreover, the policy will reduce family income adjusted for inflation by $9 billion (although some workers will be paid more, other jobs will be lost and business revenue reduced).

Instead of pursuing a $15 minimum wage that will reduce employment opportunities and real family income, lawmakers should be fighting for $50,000 careers by addressing the skills gap. Currently, there are more than 7 million open positions in the U.S. that need skilled workers to fill them. Equipping America’s labor force with the required skills to take-on these positions will help boost wages more than a government mandate ever could.

Visit Fightfor50.com[1] to learn more.

Alfredo Ortiz, President and CEO of the Job Creators Network, released the following statement:

The latest CBO report confirms what we already know to be true: broadly raising the minimum wage to $15 an hour will reduce employment opportunities and is bad for business. The consequences will be especially brutal for small businesses, which already operate within razor-thin budget margins. House Democrats—who are expected to consider federal $15 minimum wage legislation this month—should take into account Monday’s report and pursue policies that will push wages up without hurting the economy. One avenue is to ramp up workforce development initiatives—which have already been launched by the Trump administration—so that Americans can be equipped with the necessary skills to fill one of the millions of high-paying jobs already available.

References

  1. ^ Fightfor50.com (www.fightfor50.com)

Source URL: Read More
The public content above was dynamically discovered – by graded relevancy to this site’s keyword domain name. Such discovery was by systematic attempts to filter for “Creative Commons“ re-use licensing and/or by Press Release distributions. “Source URL” states the content’s owner and/or publisher. When possible, this site references the content above to generate its value-add, the dynamic sentimental analysis below, which allows us to research global sentiments across a multitude of topics related to this site’s specific keyword domain name. Additionally, when possible, this site references the content above to provide on-demand (multilingual) translations and/or to power its “Read Article to Me” feature, which reads the content aloud to visitors. Where applicable, this site also auto-generates a “References” section, which appends the content above by listing all mentioned links. Views expressed in the content above are solely those of the author(s). We do not endorse, offer to sell, promote, recommend, or, otherwise, make any statement about the content above. We reference the content above for your “reading” entertainment purposes only. Review “DMCA & Terms”, at the bottom of this site, for terms of your access and use as well as for applicable DMCA take-down request.

Acquire this Domain
You can acquire this site’s domain name! We have nurtured its online marketing value by systematically curating this site by the domain’s relevant keywords. Explore our content network – you can advertise on each or rent vs. buy the domain. [email protected] | Skype: TLDtraders | +1 (475) BUY-NAME (289 – 6263). Thousands search by this site’s exact keyword domain name! Most are sent here because search engines often love the keyword. This domain can be your 24/7 lead generator! If you own it, you could capture a large amount of online traffic for your niche. Stop wasting money on ads. Instead, buy this domain to gain a long-term marketing asset. If you can’t afford to buy then you can rent the domain.

About Us
We are Internet Investors, Developers, and Franchisers – operating a content network of several thousand sites while federating 100+ eCommerce and SaaS startups. With our proprietary “inverted incubation” model, we leverage a portfolio of $100M in valued domains to impact online trends, traffic, and transactions. We use robotic process automation, machine learning, and other proprietary approaches to power our content network. Contact us to learn how we can help you with your online marketing and/or site maintenance.

Share