Does Congress Deserve Credit for Amazon's Wage Hike? Rep. Khanna Thinks So
*By Carlo Versano*
Rep. Ro Khanna (D-CA) wants some credit for Amazon's new company-wide policy to hike its minimum wage to $15.
The progressive congressman representing California's 17th district has [sponsored](https://cheddar.com/videos/rep-ro-khanna-to-amazon-pay-your-workers-a-living-wage) a House bill to complement Sen. Bernie Sanders' (I-VT) "Stop BEZOS Act." Khanna said Tuesday in an interview on Cheddar he thinks his legislation applied more pressure to Amazon ($AMZN), which was already under scrutiny for the working conditions of its factory employees.
"It's a major, major victory," Khanna said. "I think \[Bezos\] has really set the bar."
Amazon's wage hike will go into effect Nov. 1 for 350,000 full-time, part-time, and temporary employees. The company said it will also lobby Congress to increase the minimum wage at a federal level.
To Khanna, whose district includes Silicon Valley, the move by Amazon ー based in Seattle ー will cause shockwaves and likely inspire other large corporations to act. "It's going to eviscerate the argument that you can't be profitable and pay $15 wages," he said.
"If Amazon can do it, a lot of other companies can do it."
Khanna also spoke about the federal government's injunction against California for its new net neutrality law. He said the position taken by the FCC and Chairman Ajit Pai undermines the concept of federalism, which Republicans claim to value. But the reality may be quite different.
"There is no jurisdiction to take away from what the state is doing," he said.
Pai filed suit soon after California Gov. Jerry Brown signed legislation establishing net neutrality protections for Californians over the weekend. Pai argued that the internet by its very nature constitutes interstate commerce and thus should be regulated federally.
For full interview [click here](https://cheddar.com/videos/rep-ro-khanna-amazon-set-the-bar-by-raising-minimum-wage).
After the 2021 boom, IPO activity slowed down significantly, in part due to monetary policy – but things are getting moving again with tech-friendly companies like Iboutta and Rubrik making a public debut.
With an increasing demand for mental health services, one person wanted to change the therapy game. In 2017, CEO Alex Katz founded Two Chairs, a company that uses technology to match patients with the right therapist.
Not only is April Financial Literacy Month, it’s also the kickoff of the spring homebuying season. So now is the time to make sure you have a financial plan in place – and why it might not be wise for that to include buying your first home.
While the U.S. may slowly be on the path to lowering inflation (and therefore interest rates), Europe has thoroughly trounced America, putting it on the path to lower rates by this summer.
April's release of the monthly Housing Starts and Building Permits reports by the Census Bureau provides crucial insights into the construction activity in the housing market. These reports are an economic indicator, shedding light on the current state of the housing market and its broader economic impact.
Caitlin Clark is heading to the Indiana Fever, the number one draft pick and the highest-scoring college basketball player of all time. And while she may not be getting millions from the WNBA, there's a few ways she'll net compensation for her generational talents.
Author of 'Clean Meat,' Paul Shapiro joins Cheddar to discuss how the cellular agricultural revolution helps lower rates of foodborne illness and greatly improves environmental sustainability. Plus, how his company The Better Meat Co. is bringing healthier food options to the table.
Recent headlines might make it sound like World War III is imminent, but when it comes to your finances, it's not the time to panic. The market is coming off its longest winning streak since 2011.
You may have noticed fewer new venture capital-backed startups (like Airbnb or Uber) lately. The market slowed to a crawl after 2021, but things are expected to take off again in 2025.
Corporate earnings season is underway, that time when companies share their billions in sales or double-digit profits. But the data shows even companies are struggling with high inflation and interest rates.
