Raise the Wage Act
On July 18, the U.S. House of Representatives voted to pass legislation that would raise the Federal minimum wage from $7.25 to $15 over the next six years, more than doubling it. The chief sponsor of the “Raise the Wage Act” was Representative Robert C. Scott (D-VA). The minimum wage was last raised in 2009. Earlier in July, the Congressional Budget Office (CBO) released the “The Effects on Employment and Family Income of Increasing the Federal Minimum Wage,” a report on the minimum wage. The CBO found that: In an average week in 2025, the $15 option would boost the…
