This is an absolute lie and miss-characterization of the report. The actual report says this: “According to CBO’s median estimate, under the $15 option, 1.3 million workers who would otherwise be employed would be jobless in an average week in 2025. (That would equal a 0.8 percent reduction in the number of employed workers.) CBO estimates that there is about a two-thirds chance that the change in employment would lie between about zero and a reduction of 3.7 million workers (see table below).”
The estimate is that 1.3 million might lose their jobs. But the CBO also says it is possible no one will lose their job. Or that 3.7 million will.
But what is more shocking this the deliberate attempt here to minimize the positive effects. Here is what the CBO says: “In addition, in an average week in 2025, the $15 option would increase the wages of 17 million workers whose wages would otherwise be below $15 per hour, CBO estimates. The wages of many of the 10 million workers whose wages would be slightly above the new federal minimum would also increase.” https://www.cbo.gov/publication/55410#section0
Maybe raising the minimum wage to $15 an hour would only lift 1.5 million people out of poverty — but a hell of a lot more people than that would benefit. That is, 27 million people would benefit.
This piece is dishonest. And Busler’s university colleagues should take him to task over it.