The minimum wage increase will affect 9.9 million workers, according to an Economic Policy Institute report. The increase will equate to just under $7 billion.
The Messenger
January 5, 2024
An analysis by the Economic Policy Institute in Washington, D.C., found that raising the federal minimum wage to $17 by 2028 would positively impact nearly 28 million workers across the country. The average affected worker who works year-round would receive an extra $3,100 per year.
“Raising the federal minimum wage is critical to protect workers who have been left behind,” said Ben Zipperer, senior economist at the Economic Policy Institute. “A higher federal minimum wage can build on existing state-level standards and lock in the wage gains made by low-wage workers in the economic recovery from the COVID-19 pandemic.”
SHRM
January 5, 2024
Paying people a living wage may also boost the economy: The Economic Policy Institute estimated that raising the federal minimum wage to $15 by 2025 could save taxpayers between $13.4 billion and $31.0 billion annually on major public assistance expenditures, all while increasing tax revenues since people are making more money.
Forbes
January 5, 2024
According to the Economic Policy Institute, on Jan. 1, 22 states will increase their minimum wages, raising pay for an estimated 9.9 million workers. In total, workers will receive $6.95 billion in additional wages from state minimum wage increases.
Joplin Globe
January 5, 2024
Some 9.9 million U.S. workers stand to benefit from the state minimum-wage increases on Jan. 1, according to estimates from the Economic Policy Institute, a left-leaning think tank. The new minimums will result in an automatic pay raise for the lowest-paid workers, but they will also ripple out to workers whose wages are not much higher than the minimum, boosting their pay as well.
MarketWatch
January 5, 2024
Marketwatch said nearly 10 million workers in the United States stand to benefit from the state minimum-wage increases on Jan. 1, according to estimates from the Economic Policy Institute, a left-leaning think tank.
Helena Independent Record
January 5, 2024
An increase in minimum wage in 22 states, effective Jan. 1, raised pay for nearly 10 million workers, according to an analysis from the left-leaning Economic Policy Institute.
The wage boosts will disproportionately affect Black and Hispanic workers, who make up a greater share of workers receiving raises than of the workforce overall, according to EPI.
Politico Morning Shift
January 5, 2024
Additionally, a study by the Economic Policy Institute found increasing minimum wage creates a more equitable economy – disproportionately helping women, Black, and Hispanic workers, as well as working families.
WJLA
January 5, 2024
The average annual cost of infant care in Pennsylvania is $11,842 or $987 per month. Child care for a 4-year-old costs $9,773, or $814 each month, according to the Economic Policy Institute.
Pittsburgh Post Gazette
January 5, 2024
In September, Emily Zhang observed in a blog post for the nonprofit Economic Policy Institute that to stabilize at current levels, the U.S. debt-to-GDP ratio would require either raising taxes or lowering spending by 2.2 percent and that “this is eminently doable through tax increases alone.” Recall that as a proportion of GDP, taxes in the U.S. rose 2.7 percentage points between 2018 and 2022 without anybody much noticing.
New Republic
January 5, 2024