$15 minimum wage edges closer as Democrats near Senate control – CNBC

Thanks! Share it with your friends!

Close

A $15 federal minimum wage edged closer after Tuesday’s Georgia runoff election, which seems likely to flip Senate control and unify government under the Democratic Party.

Such a pay boost would more than double the current federal minimum wage, $7.25 an hour, but would likely face resistance from some Republicans and business groups.

The Rev. Raphael Warnock, a Democrat, won the U.S. Senate runoff in Georgia on Tuesday, beating the Republican incumbent, Sen. Kelly Loeffler, according to NBC News projections.

Democrat Jon Ossoff was leading Republican David Perdue, whose Senate seat expired Sunday, in the other Georgia race, which was too close to call midday Wednesday, according to NBC News.

Democratic victories in those contests would give Democrats control of the Senate, the House and the presidency. Congress is scheduled to confirm President-elect Joe Biden’s win over President Donald Trump on Wednesday.

“It’s absolutely a priority,” Mark Hamrick, senior economic analyst at Bankrate, said of Democrats passing legislation to set a higher pay floor.

More from Personal Finance:
$2,000 stimulus checks possible if Democrats win Senate majority
Scammers have stolen $36 billion in unemployment benefits
At Georgetown, tensions rise over the decision to keep distance learning

Democrats, especially those from the party’s liberal wing, have long pushed to raise the national minimum wage. Sen. Bernie Sanders of Vermont, an independent who typically votes with Democrats, said in a Tuesday tweet that a $15 minimum wage was at stake in Georgia’s runoff election.

Proponents of increasing the pay floor argue the current standard doesn’t provide a livable wage for Americans.

Source Article from https://www.cnbc.com/2021/01/06/georgia-election-result-puts-15-federal-minimum-wage-closer.html

Comments

Write a comment