Minimum Wage Hike Report

President Obama's call to raise the federal minimum wage could help lift 900,000 workers out of poverty, but at a cost of as many as 500,000 jobs, according to an analysis released today by the non-partisan Congressional Budget Office.

The Congressional Budget Office released a report Tuesday concluding that the Democrats' proposal to raise the minimum wage would reduce poverty but also cost the economy jobs, providing fodder to both sides of the aisle.