Washington, D.C. – U.S. Senator Patty Murray (D-WA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, released the following statement today on the Congressional Budget Office (CBO) analysis on raising minimum wage to $15 an hour by 2025. The CBO’s report concluded that 17 million workers would receive a raise and 1.3 million people would be lifted out of poverty. Previous economic studies have concluded that raising the minimum wage will increase wages for low-income workers without substantial job loss.
“This report confirms that by passing the Raise the Wage Act, millions of workers would get a raise and another million would be lifted out of poverty. We’re already seeing the benefits of raising the minimum wage in states and cities across the country, and that’s why I’m fighting to ensure all workers—no matter where they live—are able to support their families by earning a decent wage.”