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Editors’ note:
For church leaders to be more effective in seeking the “welfare of the city” (Jer. 29:7), we should know what economic concepts mean, how they should be applied, and how they affect the local church. The purpose of the Economics for Church Leaders series is not to present a theology of economics, but rather to provide a basic level of understanding that will help church leaders think more clearly about how to apply their faith commitments to economics and public policy. See the Economics for Church Leaders page for other articles.
In 2016, the Democratic Party adopted a call to raise the minimum wage to $15 per hour as part of the party platform. Now, President Biden is including that proposal as part of new $1.9 trillion COVID-19 relief plan. On Tuesday, Democrats in both the House and Senate also reintroduced a bill to raise the federal minimum wage to $15 per hour. The proposal calls for gradually raising the pay rate by 2025.