$15 Minimum Wage?

Over the past couple of weeks there has been a lot of controversy over a new proposed bill that would raise the minimum wage across the United States to $15. The official name of this bill is the Raise Act of 2021 and its plan is to gradually have the minimum wage increase from its current $7.45 to $15 by 2025. While many doubt how successful this bill would be, I personally believe this bill would benefit the country in many ways.

The first, and most obvious reason is low-paid workers across the country will get an extra $3,300 a year. This extra amount of cash can help those workers afford prescriptions, better quality food, and just everyday necessities. Along with this, minimum wage workers can provide better care for their families who fall below the poverty line. The second reason why this new wage is needed is it would shorten the racial pay gap. Since African- Americans and Latinos are paid about 12% less than their white counterparts, this bill would help provide a more equal pay for everyone.

The main argument against this bill is that it would be hurting small businesses causing a loss of jobs. This would usually be a very solid point but the US is in a very unusual situation right now. Since the pandemic has put our economy into a repression, small businesses are receiving federal aid. Along with this, once the pandemic is over there will be a surge in consumer spending resulting in small businesses getting enough revenue to easily afford a $15 minimum wage.