Democrats unveil legislation raising federal minimum wage to $17 an hour
Rep. Bobby Scott (D-Va.) and Sen. Bernie Sanders (I-Vt.) introduced the Raise the Wage Act of 2025 on Tuesday in both chambers with hopes of increasing the federal minimum wage.
The bill would raise the minimum wage to $17 by 2030 according to the Economic Policy Institute. The current federally mandated hourly wage is $7.25 and has not increased since 2009.
'No person working full-time in America should be living in poverty. The Raise the Wage Act will increase the pay and standard of living for nearly 22 million workers across this country,' said Scott, who is the ranking member of the House Committee on Education and Workforce.
'Raising the minimum wage is good for workers, good for business, and good for the economy. When we put money in the pockets of American workers, they will spend that money in their communities,' he added.
The legislation, which has 142 co-sponsors in the House, would index future pay increases while phasing out the subminimum wage for tipped workers and subminimum wage for youth workers in addition to ending subminimum wage certificates for workers with disabilities.
'In the year 2025, a job should lift you out of poverty, not keep you in it. At a time of massive income and wealth inequality, we can no longer tolerate millions of workers trying to survive on just $10 or $12 an hour,' Sanders, who caucuses with Democrats, said in a release. He described current pay rates as a 'starvation wage.'
'Congress can no longer ignore the needs of the working class of this country. The time to act is now,' the ranking member on the Senate Committee on Health, Education, Labor, and Pensions continued.
The lawmakers' proposed legislation would account for a gradual increase in the federal minimum wage over a five-year period.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
20 minutes ago
- Business Upturn
Online Tax Firm MyExpatTaxes Alerts Expats: Final Chance to Claim 2021 Stimulus Payments
Vienna, June 10, 2025 (GLOBE NEWSWIRE) — MyExpatTaxes, a leading US expat tax company known for its support of U.S. citizens living overseas, is highlighting an important upcoming deadline for American expatriates. By June 16th, expats must act to claim the 2021 stimulus payments. This deadline represents the final opportunity for expats who haven't already to benefit from COVID-19 economic stimulus payments, which can total thousands of . MyExpatTaxes is urging individuals not to miss out on this opportunity. As the U.S. is one of just two countries that taxes based on citizenship rather than residence, Americans living abroad have to report their worldwide income by filing a U.S. tax return every year. Many Americans expats are unaware of this requirement to file from overseas though, so get behind in their filing. The IRS has an amnesty program for these expats though called the Offshire Streamlined Filing Compliance Procedures. This process offers a chance for overseas Americans who have unintentionally failed to meet their filing obligations to catch up on their U.S. tax filing without facing penalties. It requires submitting the last three years of tax returns and, where applicable, up to six years of Foreign Bank and Financial Accounts Reports (FBARs). The procedure can seem complex, but with MyExpatTaxes offering either self-service or guided assistance, expats can find a sense of relief with easy access to tools like a US expat tax calculator and a stimulus check calculator found on their website. Nathalie Goldstein, CEO of MyExpatTaxes, underscores the significance of acting before the June 16th deadline for non-compliance overseas Americans, saying, 'The June 16th 2025 deadline is the last opportunity for American expatriates who may not have been aware that they have to file U.S. taxes from abroad to claim teh COVID-19 stimulus payments. It's also a valuable opportunity to get tax compliant without facing penalties. Our goal is to provide them with the guidance they need to make the most of these benefits.' Her words reflect the broader mission of MyExpatTaxes – supporting American expats in navigating what can often be a daunting process filing from overseas (often as well as filing taxes in the country where they reside). The 2021 expanded Child Tax Credit is also available for American families living abroad. This credit offers a substantial benefit of up to $3,600 per child, refundable for qualifying families. Timely filing is critical to claim this credit, ensuring families don't inadvertently miss out. To aid in this, expats can access comprehensive guidance and information on the Streamlined Procedures through MyExpatTaxes' dedicated page: Adding to the firm's efforts, Goldstein remarks, 'The potential gains for catching up and filing for 2021 for expats who qualify for the stimulus payments are typically far outweigh the costs of becoming compliant. Our platform is designed to simplify the tax filing process for U.S. citizens abroad, offering practical solutions and expert support. With the deadline imminent to claim these valuable payments, we're dedicated to helping expatriates claim what they are rightfully owed.' This statement emphasizes MyExpatTaxes' commitment to easing the stress associated with U.S. tax filing for expats. To further assist expats, the company has developed easy-to-use resources such as tax guides, quick start checklists, and webinars available on their website. These resources provide education and support, aimed at simplifying and demystifying the intricacies of international tax reporting for Americans living abroad. User testimonials and official reviews highlight the effectiveness and reliability of MyExpatTaxes' services, reinforcing their reputation as a helpful aid for expats. As the June 16th deadline approaches, expats need to be vigilant. Missing this date means losing out on the chance to claim the stimulus payments for good. Through proactive action and using MyExpatTaxes' offerings, expatriates can not only ensure compliance but also capitalize on available benefits. MyExpatTaxes remains committed to guiding expatriates through these important periods, helping them understand and fulfill their tax responsibilities while maximizing their eligible claims. For those seeking to learn more or benefit from these services, they can learn more through the platform's site: The resources provided are not just about fulfilling obligations – they also empower expats to take control of their financial responsibilities with confidence. ### For more information about MyExpatTaxes, contact the company here: MyExpatTaxesMackenzie Passegger [email protected]
Yahoo
22 minutes ago
- Yahoo
Bill to amend medically assisted suicide law draws emotional debate from Maine lawmakers
Jun. 9—AUGUSTA — A proposal to allow doctors to waive the waiting period for terminally ill patients who want to be given life-ending drugs drew an emotional debate from lawmakers in the Maine Senate Monday before it was rejected by one vote. The fate of the bill is unclear after the Senate voted the proposal down 18-17. It passed 74-64 in the House of Representatives last week and faces another round of votes in each chamber before it could be sent to Gov. Janet Mills for her signature. The bill would amend a 2019 law known as the Death with Dignity Act, which legalized physician-assisted suicide in Maine. It allows certain terminally ill patients to have the option to receive life-ending medication so they have control over their death. Maine's law currently requires a 17-day waiting period from when a person requests the medication to when they can receive the prescription. The change under consideration, LD 613, would allow a doctor to waive all or a portion of the waiting period if they determine it would be in the patient's best interest. Mills supported the original Death with Dignity Act, but it's unclear if she would support the change. Spokespeople for the governor did not respond Monday to questions about whether she has taken a position on the bill. The proposal allowing for the waiting period to be waived drew emotional debate from lawmakers who spoke about how they've personally been affected by illness and death. "This is not an abstract issue for me," said Rep. Kathy Javner, R-Chester, who has metastatic breast cancer, during last week's House debate. "I am living this reality and stand before you today, not in despair, but in hope that we can preserve the dignity and meaning of life, even in the shadow of death." Javner, who was against the change, said removing the waiting period would take away the time that families and physicians currently have to reflect and consider alternative options. "Let us not respond to suffering with surrender," Javner said. "Let us respond with compassion, with presence, with resources for pain management, with palliative care, with love." Senate Minority Leader Trey Stewart, R-Presque Isle, talked about his mother, who died at age 50 from colorectal cancer, during Monday's Senate debate. Stewart said his mother "broke out" of hospice care in order to be at home with her family at the end of her life. "I will always be grateful for that extra month we got," Stewart said. "I worry about the scenarios about what if they don't get it right and what opportunities are we forestalling through this," he added. "This was the promise that was made originally with this policy, that there wouldn't be that knee-jerk opportunity because of this protection." Maine is among 10 states and Washington, D.C., where physician-assisted suicide is legal for people with terminal illnesses, according to Death With Dignity, an organization in Portland, Oregon, that advocates for the laws as a means of improving how people with such diagnoses die. Waiting periods for medication vary state to state and can range from one day to more than two weeks, according to Death With Dignity. Some states do allow waiting periods to be waived if the patient is unlikely to survive. Maine's Death with Dignity Act has been used by 218 people since it was enacted, according to Michele Meyer, D-Eliot, the sponsor of LD 613. But another nine people have died during the waiting period because their illnesses progressed too rapidly, Meyer said last week. She said the bill does not change the law's criteria that the patient be terminally ill with a six-month prognosis confirmed by two doctors and that they have the capacity to make informed decisions. "This is simple and straight forward," Meyer said. "It corrects a rare situation that never should have existed in the first place. Some of us will not know the gift of a long, healthy life. ... Medical aid in dying offers decisionally capable adults an option to avoid prolonged suffering." In the Senate Monday, Sen. Tim Nangle, D-Windham, talked about his father's lung cancer and the pain he suffered. Nangle said he didn't know if his father, who lived in another state, would have used the Death with Dignity Act, but he said the option for the time waiver should be there. "This is about their choice," Nangle said. "What do they want to do?" Copy the Story Link
CNBC
23 minutes ago
- CNBC
'Collateral damage': Fund managers lobby Congress over Section 899 to avert foreign investors leaving the U.S.
American fund managers are lobbying Congress over a provision tucked inside President Donald Trump's tax bill that they say could lead to foreign investors "quickly" pulling investments out of the U.S. The "One Big Beautiful Bill Act," which passed through the U.S. House of Representatives in May, aims to penalize foreign-owned firms operating in the U.S. and that are from countries with "unfair foreign taxes" under a provision known as Section 899. It is currently being considered by the Senate. The Investment Company Institute (ICI), which represents fund houses in the U.S., is lobbying Congress for an amendment as it warns the bill in its current form also impacts most foreign investments in U.S. stock markets, according to documents seen by CNBC. "In order to avoid the impact of section 899, portfolio investors are likely to retreat quickly from US equities, leading to capital outflows from the United States," the ICI said in a letter sent to Senator Mike Crapo, the chairman of the Senate Finance Committee, on June 5. "If sustained selling by foreign investors depresses US equity markets, this would harm both US companies and investors." Section 899 aims to introduce retaliatory tax measures against entities from countries that have levies such as the Digital Services Taxes and the OECD's global minimum tax rules. If signed into law, it could impact investors from the European Union, the United Kingdom, Canada, Australia, and Switzerland, among others. The tax would start at 5% and escalate by five percentage points annually to a maximum of 20%, on top of existing taxes, which vary by country and tax treaties. That could dent returns for foreign investors in U.S. equities. In the letter, the ICI also suggests that the U.S. fund management industry, which has collectively invested around $18 trillion in U.S. stock markets, would be "collateral damage" due to the impact of Section 899. "We do believe, however, that the current drafting of proposed section 899 should clarify its scope and avoid discouraging foreign investment in US equity markets through 'investment funds' such as US mutual funds and ETFs and their foreign counterparts (e.g., UCITS funds)," the ICI said. The letter to Senators goes on to say, "section 899 would penalize these funds and their shareholders by taxing passive income from US equity investments. To this end, investment funds would be collateral damage to the intended focus of section 899." Funds typically charge fees as a percentage of assets under management, and a withdrawal by foreign investors, over Section 899 concerns, could lead to lower earnings for the investment management firm. The Senate Finance Committee declined to comment, and Senator Mike Crapo's office did not respond to CNBC's request for comment. Foreign investors own $19 trillion in the U.S. stock markets, $7 trillion in U.S. government bonds, and $5 trillion in U.S. credit, according to data compiled by Apollo Global Management. The ICI said it's largely in support of the U.S. government's attempt to "protect US business interests overseas and to address discriminatory foreign taxes." However, it cautions that the current draft of the bill does the opposite. "Some foreign governments may actually cheer this capital flight from the United States because it benefits their local equity markets, which is not the behavioral incentive that Section 899 seeks to achieve," it said. Yuri Khodjamirian, chief investment officer for Tema ETFs, said investors in Europe who are focused on dividend-distributing U.S. companies would be "thinking quite carefully" about their holdings at this stage. "If suddenly you have to pay tax on that income, why would you hold that?" Khodjamirian questioned. Tema ETFs runs the American Reshoring ETF that is available to both U.S. and foreign investors. Tax experts suggest earnings paid out to foreign investors are more likely to be hit by Section 899 than capital gains and other methods of shareholder distributions. The Tema ETFs investment chief cautioned that the impact on the U.S. equities market would be relatively minimal as U.S. companies, say in the S&P 500, are typically not known for their dividends. "In the US, dividend yields are quite low. There's not a lot of companies paying. And most of the capital gets returned to share buybacks," Khodjamirian told CNBC. "Is that actually going to be that big of an issue then?"
