CBO: Biden’s $15 Minimum Wage Would Result in a Loss of 1.4 Million Jobs
President Joe Biden has already cost America plenty of jobs with his radical climate policies. Now, his proposal to raise the minimum wage is set to add even more job losses.
According to the Washington Examiner, a Congressional Budget Office report found that increasing the federal minimum wage to $15 an hour would cause a net loss of 1.4 million jobs in just four years.
“Higher wages would increase the cost to employers of producing goods and services,” the report said.
“Employers would pass some of those increased costs on to consumers in the form of higher prices, and those higher prices, in turn, would lead consumers to purchase fewer goods and services. Employers would consequently produce fewer goods and services,
