A $15 Minimum Wage Would Cost 2 Million Jobs, Professors Conclude

The report, from economics professor David Macpherson at Trinity University in Texas and business professor William Even at Miami University in Ohio, found that enacting a federal minimum wage of $15 would hurt the economy, especially industries already hit hard by the coronavirus pandemic.

The report looked at the Raise the Wage Act, which passed the Democrat-controlled House of Representatives in 2019, before the pandemic hit. The bill has no hope of passing a Republican-controlled senate, but if the two runoff elections in Georgia swing Democrat, control could flip and the party could pass the minimum wage increase under a potential President Biden. Biden, however, has not been officially declared the winner of the 2020 election, as President Donald Trump still has numerous lawsuits in multiple states that must work through the system.

Those hardest hit by a potential minimum wage increase would be those the Democrat Party claims to care most about: Women. It would also hit young Americans particularly hard, who vote in droves for Democrats.