Livable wages continue to be an important issue among voters, especially amid the coronavirus pandemic, and when it comes to President Donald Trump and former Vice President Joe Biden, the candidates have widely different approaches to raising incomes.
The federal minimum wage sits at just $7.25 an hour and has not seen an increase since 2009. An employee working a full-time job on a minimum wage salary makes just over $15,000 annually, but according to a study by GoBankingRates, the lowest median living wage rate for a U.S. state is about $58,000 in Mississippi.
When questioned about raising the federal minimum wage, President Trump said he would consider it but prefers to let states dictate increases. According to the president, a strong economy would lift wages and not hurt small business owners.
Biden, on the other hand, has committed to raising the federal minimum wage to $15 by 2026, the amount being part of the demand raised by the #FightFor15. The movement began in New York City in 2012 when more than 200 fast food workers walked out on the job in protest for higher pay.
Critics of a federally mandated increase in the minimum wage agree with the president's view that it would negatively impact small business owners and also would add to job losses, a drop in work hours, and higher prices for consumers.
However, a study by the House Committee on Education and the Workforce contends that a higher minimum wage would actually boost consumer spending and create more jobs.
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President Donald Trump wants his “big, beautiful” bill of tax breaks and spending cuts on his desk to be singed into law by Independence Day. And he’s pushing the slow-rolling Senate to make it happen sooner rather than later. Trump met with Senate Majority Leader John Thune at the White House early this week and has been dialing senators for one-on-one chats, using both the carrot and stick to encourage them to act. But it’s still a long road ahead for the bill. Senators want to make changes to protect Medicaid and to make sure some tax breaks become permanent. Elon Musk called the whole bill a "disgusting abomination.”
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