Congressional Budget Office $15 Min Wage Will Lead to 1.4 Million lost jobs, add $54 billion to the Budget Deficit,

The nonpartisan Congressional Budget Office on Monday said that raising the federal minimum wage to $15 per hour by 2025 would add $54 billion over 10 years to the budget deficit, lift 900,000 people out of poverty, but lead to 1.4 million lost jobs.

The deficit finding is of particular note because Democrats would like to use budgetary rules to pass a minimum wage hike as part of a budget reconciliation package, a process that can not be filibustered.