Biden Proposes $15 Minimum Wage

Will the federal minimum wage go up to $15 per hour? If President-elect Joe Biden gets his way, it will. On Thursday, Biden released details about his $1.9 trillion COVID-relief stimulus package. Overall, the package is designed to provide crush the coronavirus and provide financial relief for Americans struggling during the pandemic. Although it’s no surprise that Biden would want to increase the minimum wage, it wasn’t expected in this stimulus package.

The president-elect did try to tie the proposal to the pandemic, though. A summary of the plan released by the Biden-Harris transition team noted that millions of Americans have put their lives on the line to keep the country running. “Let’s not just praise them, let’s pay them,” it said. In a speech to the nation, Biden also said, “if you work for less than $15 an hour and work 40 hours a week, you’re living in poverty.”

The tipped minimum wage and sub-minimum wage for people with disabilities would also be eliminated under the Biden plan.

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The current federal minimum wage is $7.25 per hour. Biden’s proposal would more than double that amount. States can have their own minimum wage. They can be higher than the federal amount, but not lower.

Biden’s plan also called for an additional round of stimulus checks, extended unemployment benefits, increased tax credits, and more. For more information, see 12 Ways the Biden Stimulus Package Could Put (or Keep) Money in Your Pocket.

Source: kiplinger.com

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