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A fresh initiative in the U.S. Senate to put a tax penalty on big companies as a way of forcing higher minimum wages prompted a skeptical reaction among economists including a top adviser to former President Barack Obama.
Even as the House passed President Biden’s pandemic aid plan with a minimum wage increase included, Democrats were searching for a Plan B for the wage hike, which was ruled out in the Senate.
(Bloomberg) A fresh initiative in the U.S. Senate to put a tax penalty on big companies as a way of forcing higher minimum wages prompted a skeptical reaction among economists including a top adviser to former President Barack Obama.
“This is a really big, complicated, brand new proposal.