Economy Politics

Report: Biden Economic Policy Will Kill Two Million Jobs

One of Joe Biden’s top economic policy priorities could kill as many as two million new jobs, a new report finds.

Biden has championed a $15 minimum wage throughout his presidential bid. The Democrat’s website touts helping “get state and local laws increasing the minimum wage across the finish line” and calls it “well past time we increase the federal minimum wage to $15 across the country.” An analysis from the pro-free market Employment Policies Institute (EPI) found that a nationwide mandate for a $15 minimum wage – more than double the current federal rate of $7.25 per hour – could eliminate millions of jobs within its first six years.

Economists found that those job losses would fall mainly among vulnerable populations, with some of the heaviest cuts coming in low-skill or entry-level positions. Half of the two million jobs lost as a result of the policy will occur in the arts, entertainment, recreation and accommodation, and food services sectors. Read more…

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