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A whirlwind day for Luigi Mangione ends with new charges and transfer to a federal prison Food insecurity prompts ND advocates to eye universal school meals; FL coastline sinking: New study questions safety, future of construction; MA state grants boost rural economies, climate resilience.

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President-elect Trump repeats his threats to jail Jan. 6th committee members, while also putting a stop-gap spending plan in jeopardy. A court removes Fani Willis from Trump's Georgia election interference case. The FAA restricts drones in New Jersey, and a Federal Reserve rate cut shakes markets.

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Rural folks could soon be shut out of loans for natural disasters if Project 2025 has its way, Taos, New Mexico weighs options for its housing shortage, and the top states providing America's Christmas trees revealed.

CBO: Benefits Outweigh Costs of $15 Minimum Wage

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Friday, July 12, 2019   

LINCOLN, Neb. – The benefits of raising the federal minimum wage to $15 an hour by 2025 would far outweigh any costs, according to a report released this week by the Congressional Budget Office.

Former U.S. Labor Department chief economist Heidi Shierholz, now a senior economist with the Economic Policy Institute, said the move would raise wages for 27 million low-wage workers, and would increase those workers' family incomes by $22 billion annually.

"Inequality would go down; the number of people living in poverty would go down by 1.3 million," Shierholz explained. "And nearly half of those would be kids, because their parents get a raise."

The last time Nebraska's minimum wage went up was in 2008, from $6.55 to $9 an hour. The state also allows exemptions for a variety of workers, including agricultural workers.

Critics of a proposal introduced this year in the U.S. House to raise the federal wage to $15 an hour by 2024 said workers could lose jobs or see reduced hours, and warned that higher labor costs could be passed along to consumers.

According to Shierholz, most studies – including from the libertarian Cato Institute – have confirmed that raising the minimum wage hasn't resulted in substantial job loss. Most businesses are able to absorb the cost through a reduction in staff turnover, which she says is typically high in the low-wage job market.

"Because people are just more invested in their jobs. That reduces a huge expense for employers," she said. "The cost of someone leaving and replacing a worker can be up to 20 percent of annual wages."

Shierholz thinks businesses also would benefit overall if the wage floor was raised, because low-wage workers tend to spend any additional money on necessities.

She noted that prices at restaurants have gone up by just .6% for every 10% increase in the minimum wage. She added that polls have found people are willing to pay a little more if it means workers get better wages.





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