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April 18, 2014

CBO: Wage boost would cost $15B

WASHINGTON (AP) — The Congressional Budget Office estimates that a Senate Democratic proposal gradually boosting the minimum wage to $10.10 hourly would force businesses to spend $15 billion more in salaries in 2017.

The nonpartisan budget office says the increase would impose $1 billion in higher salary costs on state and local governments in 2017, when in full effect.


 
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