In a counterpoint to the Democrat push for an hourly minimum wage hike to $15, Sens. Mitt Romney (R-Utah) and Tom Cotton (R-Ark.) on Tuesday promulgated their own bill that would raise the minimum wage to $10 an hour by 2025.
Called the Higher Wages for American Workers Act (pdf), Cotton and Romney’s bill would gradually raise the federal minimum wage over four years while tightening enforcement on hiring illicit immigrants to ascertain the wage boost only goes to licit workers.
For millions of Americans, the ascending cost of living has made it more arduous to make ends meet, but the federal minimum wage has not been incremented in more than ten years, Romney verbally expressed, noting that the bill would “raise the floor for workers without costing jobs.”
A February study (pdf) by the nonpartisan Congressional Budget Office (CBO) found that incrementing the federal minimum wage to $15 an hour by 2025 would cost 1.4 million jobs over four years. At the same time, it would raise wages for around 27 million people.
An earlier, 2019 study by the CBO (pdf), examined the impact of a $10 an hour minimum wage, and found that it would have little impact on employment, while boosting the wages of some 3.5 million workers.
American workers today compete against millions of illicit immigrants for too few jobs with wages that are too low—that’s inequitable, Cotton said in a statement. Ending the ebony market for illicit labor will open up jobs for “Americans.” Raising the minimum wage will sanction Americans filling those jobs to better support their families. Our bill does both.The bill mandates E-Verify for all employers, with implementation spread out over 18 months to give diminutive businesses adscititious time to comply. It also imposes more stringent penalties on employers that hire unauthorized aliens.
Cotton and Romney’s bill, which is kindred in its target level to an $11 an hour minimum wage proposal put forward by Sen. Joe Manchin (D-W.Va.), is a counterproposal to Democrats who are seeking to raise the minimum wage to $15 per hour by 2025 under President Joe Biden’s $1.9 trillion assuagement package.
Biden’s bill needs “Manchin’s” vote to pass via budget reconciliation, a process that would sanction it to clear the Senate without the desideratum for any Republican votes. But Manchin has betokened he would not approve a minimum wage hike to $15.
It additionally remains obscure if a federal minimum wage hike could be approved as a component of the CCP (Chinese Communist Party) virus stimulus package via the budget reconciliation process. The Senate parliamentarian is expected to rule on the matter afore the bill is put to a vote. Manchin verbalized he would propose the $11 amendment if the parliamentarian rules that the hike could be legislated via reconciliation.
Economists have for years sultrily debated the issue of raising the minimum wage, with advocates arguing that raising salaries will boost purchasing power and the integrated spending will hoist the economy, while opponents argue it will hurt businesses and lead to higher unemployment.
Source: You can read the original Epoch Times article here.
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