Biden defends call for minimum wage hike: "It's about doing it gradually" From CNN's DJ Judd and Tami Luhby Taylor Glascock for CNN President Biden defended his administration’s call to raise the minimum wage to $15 an hour during tonight's town hall. “The vast majority of the economists and there are studies that show by increasing the minimum wage to $15 an hour, it could have an impact on a number of businesses, but it would be de minimis, et cetera. Here's the deal. It's about doing it gradually," Biden said. Raising the federal hourly minimum wage to $15 would reduce poverty — but would also cut employment by 1.4 million workers and increase the federal deficit by $54 billion over a decade, according to a Congressional Budget Office report released Monday.