Media Advisory: Furman, Harkin, Miller to Discuss Path Forward for Raising the Federal Minimum Wage to $10.10
Via an Economic Policy Newsflash (hat tip KH):
On Tuesday, January 14, 2014 at 9:15 a.m. ET, Jason Furman (Chairman of the White House Council of Economic Advisers), Sen. Tom Harkin (D-Iowa), Rep. George Miller (D-Calif.) will join EPI President Lawrence Mishel to discuss the economic case for raising the federal minimum wage and their plans to enact the Fair Minimum Wage Act of 2013.
At the event, EPI will release a letter from economists, including seven Nobel Prize laureates, endorsing a $10.10 minimum wage.
The Fair Minimum Wage Act, introduced by Harkin and Miller, would raise the federal minimum wage in three incremental increases of $0.95 from its current level of $7.25 per hour to $10.10 per hour. The Harkin-Miller bill would then index the minimum wage to inflation, so that as prices rise in subsequent years, the minimum would automatically be adjusted.
EPI research shows the Harkin-Miller bill would give a raise to 27.8 million workers, who would receive about $35 billion in additional wages. A $10.10 minimum wage would increase GDP by $22 billion, creating roughly 85,000 new jobs.
The event will be livestreamed here.