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Biden minimum wage plan might hike unemployment by 1.4 mln, budget deficit by $54Bln: CBO

Biden minimum wage plan might hike unemployment by 1.4 mln, budget deficit by $54Bln: CBO

Feb 09, 2021, at 02:42 pm

Washington/Sputnik: President Joe’s Biden plan to virtually double the US minimum wage to $15 per hour by June 2025 would raise unemployment by an estimated 1.4 million and the budget deficit by $54 billion in the decade between 2021 and 2031, the bipartisan Congressional Budget Office (CBO) said on Monday.