Debate: Should the Minimum Wage Be Raised?

The federal minimum wage is $7.25 per hour. Even full-time workers often find it difficult to support themselves or their families at that rate. Democrats have proposed a dramatic boost in the minimum wage to $15 an hour, arguing it would energize the economy by encouraging people to spend more and would help address income inequalities. Opponents argue the economy would suffer under a higher federal minimum wage, as some small businesses could be forced to lay off workers and raise prices. Listen to business owners discuss the pros and cons of a $15 minimum wage and then debate: Should the minimum wage be raised?

Update: Since this story aired, the COVID relief bill passed Congress and became law.