CBO says minimum wage bill would cost jobs, boost incom

Raising the minimum wage to $10.10 per hour would reduce employment by 500,000 in 2016 compared to if Congress left the minimum wage at $7.25 per hour, the Congressional Budget Office said in a report on Tuesday. The non-partisan body also found that raising the minimum wage to $10.10, as called for by the White House and congressional Democrats, would significantly boost the incomes of low-wage workers.