McEachin votes in support of Raise the Wage Act
The bill will gradually increase the federal minimum wage to $15 per hour over a six-year period. Additionally, the act would phase out the subminimum wage for tipped workers, youth workers, and workers with disabilities. To keep up with inflation, the Raise the Wage Act indexes future minimum wage increases to median hourly wage growth.
“Establishing a livable wage is a positive step forward for economic justice in this country,” said McEachin. “No American should be struggling to live about the poverty line while working full-time. Since coming to Congress, I have consistently advocated for raising the minimum wage, and this legislation will help address inequality and ease financial burdens on hardworking individuals in Virginia and across our country. I will continue to fight for fairer wages for all Americans.”
- The Raise the Wage Act could increase wages for more than 30 million American workers, according to independent economic analysis from the Economic Policy Institute. Even the Congressional Budget Office’s (CBO) more cautious estimate of a similar proposal indicated as many as 27 million workers could see a wage increase.
- The Raise the Wage Act could lift 1.3 million Americans out of poverty, including 600,000 children, according to the CBO’s recent report.
- The Raise the Wage Act also helps secure equality and fairness for women by giving an estimated 23 million working women a raise and helping narrow the gender wage gap that disproportionately impacts women of color.
The federal minimum wage was last raised a decade ago. Since then, workers have struggled keep up with the increasing costs of housing, healthcare, and education while the minimum wage has remained stagnant. The Raise the Wage Act accounts for changing market prices to give more Americans access to baseline financial stability. It is time to ensure that all Americans who work 40 hours a week are able to live above the poverty line.