New Report Finds House Democrats’ Raise the Wage Act Could Result in up to 3.7 Million Jobs Lost
WASHINGTON, D.C. – House Budget Committee Ranking Member Steve Womack (R-AR) issued the following statement after the Congressional Budget Office (CBO) released a report, at House Republicans’ request, entitled “The Effects on Employment and Family Income of Increasing the Federal Minimum Wage.”
“This report confirms what we already knew about House Democrats’ Raise the Wage Act: American workers and families will lose their jobs if this bill is enacted. CBO shows that imposing a 107-percent increase on the minimum wage could result in up to 3.7 million lost jobs – jobs hardworking Americans rely on to feed their families and pay their bills, jobs communities need to fuel their local economies, and jobs essential to strengthening our nation’s financial future.
“The House Majority should be looking for ways to continue growing our booming economy by empowering employers to create even more opportunity for people across the country. With a strong job market, we are seeing historically low unemployment and historically high wage growth. I urge House Democrats not to advance a proposal that would unravel that progress and hurt millions of families in the process.”