New Report: Minimum wage hike would cut food stamp spending by $4.6 billion a year

The Congressional Budget Office found that raising the minimum wage would lift 900,000 people out of poverty. More than 70 percent of Americans support raising the minimum wage. And now, a new report by the Center for American Progress shows that raising the minimum wage would reduce federal spending on food stamps by billions of dollars.  According to the Washington Post:

Raising the minimum wage from $7.25 to $10.10 an hour would reduce federal food stamp spending by $4.6 billion a year, according to a report to be released Wednesday by the liberal-leaning Center for American Progress.”

“The proposal, a top legislative priority for President Obama and congressional Democrats, would reduce enrollment in the food stamp program by as much as 9.2 percent, the report said.”

“A report last month from the nonpartisan Congressional Budget Office said about 15 percent of the nation’s workforce would see wages rise under Obama’s plan to raise the minimum wage, adding that the increase would lift 900,000 people out of poverty.”

Fewer Americans living in poverty, support of American voters, and reduced spending – sounds like a win-win-win.  Do House Republicans need any more reasons to support raising the minimum wage?  

Posted in