Conservative Josh Hawley introduces bill to raise federal minimum wage to $15 an hour
WASHINGTON - Ultraconservative Missouri Sen. Josh Hawley introduced a bill on June 10 with Democratic Vermont Sen. Peter Welch to raise the federal minimum wage to $15 an hour, making him one of the few Republicans to support the cause.
The bill, dubbed the 'Higher Wages for American Workers Act,' would raise the minimum wage starting in January 2026 and allow it to increase on the basis of inflation in subsequent years. The federal minimum wage is currently $7.25 per hour and it's been unchanged since 2009.
It is unclear whether the legislation will be taken up for a vote.
Members of Congress have previously tried to raise the minimum wage, but to no avail. In 2021, Democratic lawmakers tried to tack a $15 per hour minimum wage provision in former President Joe Biden's $1.9 trillion coronavirus package, but a Senate official ruled that the measure couldn't be included in the bill.
President Donald Trump said in December 2024 that he would 'consider' raising the minimum wage. However, he revoked a 2024 executive order that set the minimum wage for federal contractors at $17.75.
'For decades, working Americans have seen their wages flatline," Hawley said in a statement. One major culprit of this is the failure of the federal minimum wage to keep up with the economic reality facing hardworking Americans every day."
Welch, a member of the Senate Finance Committee, echoed a similar sentiment. 'Every hardworking American deserves a living wage that helps put a roof over their head and food on the table–$7.25 an hour doesn't even come close,' he said.
The Employment Policies Institute, a think tank dedicated to researching employment growth, opposed Hawley and Welch's push, arguing that it would result in a loss of jobs.
'Sen. Hawley should know better,' Rebekah Paxton, research director of the institute, said in a news release. 'This proposal would more than double the minimum wage and slash over 800,000 jobs. An overwhelming majority of economists agree that drastic minimum wage hikes cut employment, limit opportunities for workers, and shutter businesses.'
The nonpartisan Congressional Budget Office found in an analysis that raising the minimum wage would 'raise the earnings and family income of most low-wage workers' but would cause other low-income workers to lose their jobs and their family income to fall.
Hawley in February teamed up with progressive firebrand Vermont Sen. Bernie Sanders to introduce a bill capping credit card interest rates at 10%, saying it would "provide meaningful relief to working people." He's also been a vocal critic of Medicaid cuts.
This article originally appeared on USA TODAY: Josh Hawley introduces bill to raise federal minimum wage to $15
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Politico
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Dual taxation refers to a situation in which an individual is taxed on the same income, assets, or capital gains by two or more countries. This typically arises when: A person holds citizenship in one country but resides or earns income in another but Both countries have the authority to tax global income Tax treaties fail to eliminate redundancy or apply only partial credits While tax treaties exist to mitigate these issues, they are often complex, ineffective, or filled with exemptions that still leave citizens overexposed to global tax burdens. Section I: The U.S. Tax Trap—Why Americans Lead in Renunciation The United States remains the only developed country that imposes citizenship-based taxation, meaning all U.S. citizens are required to file and potentially pay taxes on their worldwide income, regardless of their place of residence. U.S. Citizens Abroad Must: File annual IRS tax returns (Form 1040) Submit FBAR (Foreign Bank Account Reports) if foreign accounts exceed $10,000 (Foreign Bank Account Reports) if foreign accounts exceed $10,000 Report foreign investments via FATCA (Form 8938) (Form 8938) Face double reporting with foreign financial institutions forced to comply under FATCA Record-Breaking Renunciations In 2024, the U.S. saw over 10,500 individuals officially give up their citizenship—a number driven not by politics but by tax exhaustion. Many cited the high cost of compliance, punitive exit taxes, and the global reach of U.S. taxation as unsustainable. The Cost of Holding U.S. Citizenship Abroad Annual Cost Category Average Expense Tax prep/compliance (basic) $3,000–$10,000+ FATCA-related legal advisory $5,000–$20,000 Penalties for non-disclosure Up to $100,000+ Time spent on reporting 40–80 hours/year Section II: Other Nations Where Dual Taxation Hurts the Most While the U.S. is the most well-known offender, other countries also create dual taxation traps, including: 1. France Taxes on global income if you are a French tax resident, even if you hold another passport. An exit tax applies to unrealized gains if you relocate. Some double-tax treaties don't cover certain investment vehicles. 2. South Africa Worldwide income is taxed unless you sever residency-based taxation via financial emigration. via financial emigration. High-income earners working abroad are still required to declare foreign income. 3. India Resident but not ordinarily resident (RNOR) status still requires disclosure of foreign assets. Double taxation persists in real estate and capital gains. 4. Canada Taxes global income for residents, even non-citizens on long-term visas. Severing ties requires proof of permanent departure, and exit taxes may apply. Who Suffers the Most? Dual taxation disproportionately affects: Retired expats living abroad on pensions or trusts living abroad on pensions or trusts Remote workers earning globally distributed income earning globally distributed income Crypto traders holding tokens in offshore jurisdictions holding tokens in offshore jurisdictions Entrepreneurs managing cross-border companies managing cross-border companies Multinational executives paid in multiple jurisdictions Section III: Renouncing Citizenship as a Financial Exit Strategy Legal Basis Renunciation is permitted under international law, and nearly every country offers a formal process. 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Other Countries With Exit Taxes: Country Exit Tax Description France Unrealized capital gains on shares and securities Canada Departure tax on worldwide property Spain Exit tax on unrealized gains above thresholds Section IV: Countries That Welcome Former Citizens With No Tax Strings The goal after renunciation is to resettle in a country that: Does not tax non-resident citizens Has a territorial tax system Offers residency or citizenship with low fiscal exposure Ideal Post-Renunciation Destinations: 1. Panama Territorial taxation Friendly Nations Visa available No tax on offshore income 2. UAE No personal income tax Strong business infrastructure Welcomes HNWIs and family offices 3. Paraguay Residency for $5,000 bank deposit No tax on foreign income Simple documentation 4. Vanuatu Zero personal income tax Citizenship by investment in under 60 days No reporting to CRS or FATCA 5. Saint Kitts and Nevis Passport issued in 90 days No global income tax Full confidentiality for offshore holdings Section V: Case Studies in Strategic Renunciation Case Study 1: Crypto Wealth and Caribbean Reinvention An early Bitcoin investor based in California relocated to the UAE in 2022. After consulting Amicus, he renounced U.S. citizenship in 2024 and acquired Saint Kitts citizenship. By 2025, he was fully non-resident, held no tax obligations to the U.S., and legally realized token gains via offshore trusts. Case Study 2: The Consultant Who Outgrew the IRS A Canadian-American strategy consultant living in Germany found herself filing returns in three countries—each claiming taxing rights. After renouncing U.S. citizenship in Frankfurt, she streamlined her tax exposure and relocated to Portugal under the Non-Habitual Resident (NHR) program. Her annual tax advisory bill dropped by 75%. 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Why Timing Matters Renunciation isn't a quick fix—it's a strategic transition that must be executed with precision. Acting in the wrong tax year, renouncing before securing alternative banking, or failing to comply with prior reporting can trigger audits, fines, or even international asset freezes. Conclusion: The Price of Freedom—or the Cost of Staying? In 2025, citizenship is no longer a static identity—it is a financial choice. For many, staying tied to countries with expansive, outdated, or punitive tax systems is simply too costly. By legally renouncing citizenship and choosing a more efficient jurisdiction, individuals are reclaiming control over their wealth, privacy, and global mobility. If dual taxation is draining your financial freedom, renunciation may be the smartest investment you'll ever make. 📞 Contact InformationPhone: +1 (604) 200-5402Email: info@ Website:
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