The U.S. House of Representatives wants every American to make more money, and they have a plan on how to do it: Just require all businesses to pay more, and the issue will be solved.
At least, it will for those who still have jobs.
The House passed legislation that calls for raising the federal minimum wage, currently $7.25 an hour, to $15 by October 2025. The move is a boon to unions and labor groups because it gives them a big stick to use when hitting up employers for more income.
But nowhere in the law do they discuss where the money will come from. Employers have pointed out time and again that raising the minimum wage forces them to fire some of their current work force and to automate faster, which puts fewer people to work in low skill jobs.
It’s not likely the Senate will pass the measure, making it moot at the moment. But if the legislative composition of Congress changes, then the measure is likely to resurface.