President Barack Obama and Congressional Budget Office CBO

Congressional Budget Office CBO: In a report containing ammunition for both supporters and opponents of the Democratic election-year proposal, the Congressional Budget Office CBO said gradually raising the minimum from $7.25 hourly to $10.10 would lift 900,000 people above the federal poverty level by 2016. That is out of 45 million who would otherwise live in poverty without an increase, according to The Star. The study was unveiled as the Senate prepares for a March debate on a plan by Sen. Tom Harkin, D-Iowa, ramping up the minimum in three steps to $10.10 by 2016. The proposal is backed by Obama and is a keystone of Democrats campaign-season plans to highlight their effort to make incomes more equitable, but it faces strong Republican opposition and long odds of approval by Congress and Boosting the U.S. federal minimum wage as President Barack Obama and congressional Democrats are proposing would increase earnings for more than 16.5 million people by 2016 but also cut employment by roughly 500,000 jobs, Congress nonpartisan budget analyst said Tuesday. But the analysis also noted a downside: About 0.3 per cent fewer jobs, especially for low-income workers; higher costs for business owners and higher prices for consumers. (www.immigrantscanada.com). As reported in the news.