The Congressional Budget Office estimates increasing the “federal minimum wage to $10.10 hourly would require private businesses to spend $15 billion more in salaries when it takes full effect in 2017.” From the Seattle Times,
“The budget office also estimated that the measure would force state and local governments to pay workers $1 billion more in 2017 than they would otherwise be required. Those governments paid $840 billion in salaries in 2012, according to the Bureau of Labor Statistics.”
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