The Economic Policy Institute recently released a new report, “The Benefits Of Raising Illinois Minimum Wage,” which shows how increasing Illinois’ minimum wage would benefit both working families and the Illinois economy.
“Increasing the minimum wage would provide a much-needed raise to many Illinois workers and would generate economic activity and new jobs to a sluggish economy,” said Mary Gable who co-authored the report. “In fact, it is one of the few budget-neutral strategies available to state governments that would actually provide a job boost in the coming years.”
Ron Baiman, Director of Budget and Policy Analysis at the Center for Tax and Budget Accountabiliy, stated, “Unlike the recently passed bills giving hundreds of millions of dollars in corporate tax breaks that the state cannot afford, this bill is guaranteed to increase jobs in Illinois because it would increase economic activity from the demand side. It would not cost the state a penny, and it would provide a much needed boost to the incomes of families at the very bottom end of the wage scale who most need help during these times of continued real wage decline, unabated expansion in inequality, and persistently high and long term unemployment.“
Read the full report here.