Latest news with #TimothyOBrien
CBS News
08-08-2025
- Business
- CBS News
Denver's minimum wage to increase to $19.26 starting in 2026
The minimum wage in Denver will go up almost 50 cents on Jan. 1, in line with a city ordinance passed in 2019 that increases minimum wage in an effort to rise with the cost of living. The local minimum wage will go from its current $18.81 per hour to $19.29. That means someone working 40 hours a week will go from making around $39,125 a year before taxes to about $40,123 a year before taxes. For tipped food and beverage workers, their minimum wage will go from $15.79 per hour to $16.27. "Whether it's raising pay or lowering rent, we're committed to doing everything we can to make Denver more affordable," Denver Mayor Mike Johnston said in a statement on Thursday. "Our minimum wage has created new opportunity for Denver residents, and we will continue to work towards commonsense solutions that ensure wages stay high, costs stay low, and businesses stay open." Denver Auditor Timothy M. O'Brien also touted the wage, saying it helps protect workers. "Denver leads the way with some of the strongest wage protections in the United States," he said in a statement. "We are committed to protecting the most vulnerable workers and ensuring both businesses and employees know the law." The rate of increase in January amounts to 2.56% from 2025 to 2026, down from 2.84% last year and 5.8% the year before, although for tipped workers, the increase is closer to 3.04%. And despite the goal of having the mandated yearly increases keep up with the cost of living, multiple studies show the minimum wage isn't nearly enough to survive in the Mile High City, even when working full time. MIT's Living Wage Calculator shows that a single adult with no children needs to make at least $26.20 an hour, or about $54,496 per year before taxes, as a living wage in Denver. For two adults with two kids, the combined income needs to be closer to $73,236.80. Colorado's statewide minimum wage is $14.81 and also goes up each year, in accordance with state law. The federal minimum wage in 2025 is $7.25 and $2.13 for tipped workers, neither of which has changed since it rose from $6.55 in 2009.
Bloomberg
14-07-2025
- Politics
- Bloomberg
Epstein Backlash Has a Lesson for Trump
Opinion Trump is offering new conspiracies to get rid of old ones about Jeffrey Epstein, says Bloomberg Opinion executive editor Timothy L. O'Brien. It's fracturing MAGA. (Source: Bloomberg)
Bloomberg
30-05-2025
- General
- Bloomberg
Time to Brace for the 'TACO' Impact
Opinion Trump will do anything to prove he's not chicken. Brace for the TACO impact, says Bloomberg Opinion's Timothy L. O'Brien. (Source: Bloomberg)
