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.
A legislative package to end the government shutdown appears on track. A handful of Senate Democrats joined with Republicans to advance the bill after what's become a deepening disruption of federal programs and services. But hurdles remain. Senators are hopeful they can pass the package as soon as Monday and send it to the House. What’s in and out of the bipartisan deal has drawn criticism and leaves few senators fully satisfied. The legislation includes funding for SNAP food aid and other programs while ensuring backpay for furloughed federal workers. But it fails to fund expiring health care subsidies Democrats have been fighting for, pushing that debate off for a vote next month.
Sabrina Siddiqui, National Politics Reporter at The Wall Street Journal, joins to break down the SNAP funding delays and the human cost of the ongoing shutdown.
Arguments at the Supreme Court have concluded for the day as the justices consider President Donald Trump's sweeping unilateral tariffs in a trillion-dollar test of executive power.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated. The move comes amid a fraught time for the central bank, with hiring sluggish and yet inflation stuck above the Fed’s 2% target. Compounding its challenges, the central bank is navigating without much of the economic data it typically relies on from the government. The Fed has signaled it may reduce its key rate again in December but the data drought raises the uncertainty around its next moves. Fed Chair Jerome Powell told reporters that there were “strongly differing views” at the central bank's policy meeting about to proceed going forward.
