A report by Congress’ nonpartisan budget analysts seems to have thrown Democrats onto the defensive after it concluded that the party’s drive to boost the federal minimum wage could cost a half-million jobs by 2016.
A Congressional Budget Office report released Tuesday concluded that a gradual increase to $10.10 hourly by that year — which is what President Barack Obama and congressional Democrats are seeking — would increase pay for more than 16.5 million people, mostly those earning low wages. It also would lift 900,000 people over the federal poverty threshold, the study said.
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