Perspectives: Raising the Minimum Wage

In his $1.9 trillion COVID-19 relief aid proposal, President Joe Biden included a plan to increase minimum wage to $15 per hour. The plan would more than double the national minimum wage in increments over four years from $7.25 per hour, where it has stood since 2009. Advocates of the plan highlight how a $15 minimum wage would help full-time workers rise above the poverty line; others point out how it could help those affected by wage gaps. Some experts warn it could lead to higher unemployment rates as the country struggles to recover from pandemic layoffs. The proposal also has the support of some labor unions. Some large businesses, who have raised their own wages in past years, support a higher federal minimum to level the playing field. Some who oppose the bill argue that $15 per hour is too high for areas with a lower cost of living, and that a higher minimum could cause small businesses to layoff workers or cut hours, leading to higher unemployment rates. Outlets from across the spectrum analyzed the potential impacts of raising the minimum wage. Voices from the left examined how a raise could even the playing field for those under the poverty line. Voices from the right tended to point out the negative effect the raise could have on small businesses and the economy in the long term; some also argued that a minimum wage raise can't be passed through the Senate via budget reconciliation.