Ranking Member Scott: Up to 19 Million Workers will Get a Raise under Raise the Wage Act
Raise the Wage Act Will Lift 400,000 People Out of Poverty
WASHINGTON – Ranking Member Robert C. “Bobby” Scott (VA-03) released the following statement after the Congressional Budget Office (CBO) released a report on the effect of gradually raising the federal minimum wage to $17 per hour by 2028.
“The clear conclusion from the Congressional Budget Office’s report is that the benefits of the Raise the Wage Act of 2023 for workers far outweigh the potential costs. According to CBO’s estimates, the legislation would give up to 19 million workers a raise, lift 400,000 Americans out of poverty, and further bolster our economic growth by putting money back into the pockets of workers who will spend that money in their communities.
“Notably, the CBO’s findings reinforce the evidence that gradually raising the federal minimum wage would boost wages most for workers in states with some of the weakest labor organizing protections, which have prevented workers from forming unions and negotiating for higher pay.
“It has been more than a decade without an increase to the federal minimum wage—the longest period in U.S. history. As the current minimum wage of $7.25 becomes even less of an adequate floor for workers’ pay, we must pass the Raise the Wage Act of 2023 to strengthen the financial security of our nation’s workers and their families.”
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