Elected President Biden has promised to raise the federal minimum wage to $ 15 per hour, which could lead to job losses and closure of small businesses. FOX Business’ Hillary Vaughn and more.
Elected President Joe Biden said Friday that he wants to raise the federal minimum wage to boost U.S. economic growth and increase household income.
The incoming president said no American worker should work 40 hours a week and still live below the poverty line, adding that these people were “entitled” to at least $ 15 an hour.
“I also hope that the democratic control of the House and the Senate will increase the chances of acting quickly to raise the minimum wage,” Biden said in a national speech on Friday. ‘I have long said that we should reward work, and not just wealth, in this country. People in both parties now realize that it’s time to raise the minimum wage so that hardworking people earn at least $ 15 an hour. ”
Currently, the federal minimum wage is $ 7.25, where it has been for more than a decade.
Elected Vice President Kamala Harris reiterated during the same event on Friday that the government intends to fight for a higher minimum wage.
MINIMUM WAGE INCREASING IN THESE STATES IN 2021
Boston Mayor Marty Feldstein has been nominated to take on the role of U.S. Secretary of Labor, though Biden said he “paid serious attention” to the appointment of Senator Bernie Sanders, IV.
However, the president-elect said the couple agreed that securing democratic control of the Senate was a higher priority.
Biden said he and Sanders would “work together” on a “shared agenda” to increase the power of the workers.
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Biden has indicated that a short-term economic relief plan will focus on small businesses, in addition to receiving $ 2,000 stimulus checks to eligible households.
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