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Monday, August 15, 2022

Stimulus Bill Of $1.9 Trillion Will Have A Reduced Minimum Wage, As Per Senate Dems.

The Covid-19 stimulus bill by President Joe Biden was accepted by the House of Democrats a couple of days ago. But there were also a couple of people who indicated towards a “Plan B.” Even after the acceptance, there were speculations that there was no surety about the raised minimum wage proposal. And the uncertainty has been cleared today. The stimulus bill proposed that corporations were to be punished if they had paid their employees beneath a minimal threshold. But Senate Dems will deflect the plans of raising workers’ pay. 

This means that there will be no economic incentives or tax penalties that could have been considered to give the minimum wage a hike. This comes from a source close to the situation. Senators had drifted to a backup plan from Thursday-Friday. They did after their parliament mentioned how 15 dollars for every hour did not meet one requirement— which is needed to pass a bill with no support from Republicans. Ron Wyden, the Senate Finance Chair, Bernie Sanders, the Senate Budget Chair, and D-Ore together championed the plan B. 

LawMakers & The Minimum Wage Stimulus Bill

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Lawmakers have considered several penalties when considering the stimulus bill for minimum wage. One of these was a levy of 5% when a corporation fails to pay at least 15 dollars per hour for a minimum wage. The stimulus bill was the first thing President Biden did entering the White House. And now, its fate is in the hands of the Senate House, who had their version accepted. 

The stimulus check includes a 1400 dollars direct check to every taxpaying American. It also consists of 350 billion dollars as an aid to local and state governments. 

Nancy Pelosi, the speaker of the house, said that she believed that the House “absolutely” will pass the relief bill.

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