Press Release ● Jobs & the Economy
For Immediate Release: 
February 8, 2021
Contact Info: 
Katie Grant Drew 202-225-3130
WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today on a new report by the Congressional Budget Office on the effects of the Raise the Wage Act:

“The nonpartisan Congressional Budget Office’s projections for the Raise the Wage Act demonstrate just how important this legislation is. According to its report, raising the federal minimum wage to $15 an hour would greatly benefit American workers and their families. Nearly a million people would be lifted out of poverty, and 27 million workers in our country would see a pay increase. This legislation would provide an economic stimulus in the form of $333 billion in additional income for American households.  At the same time, we would see major savings due to lower federal spending on safety net programs. 
 
“The case for enacting this legislation is clear and compelling, and we ought to be investing in our workers and helping them attain economic security and access opportunities to get ahead. I thank Chairman Scott for championing this legislation and look forward to bringing it to the Floor again in the 117th Congress.”