The minimum wage continues to be one of the most hotly debated topics of the new year.
President Obama and Congressional democrats want to raise the minimum wage to $10.10 an hour by 2016. Speaker of the House John Boehner and the GOP maintain that the hike would be a jobs killer.
Democrats can cite various reports from well respected economists that find no negative impact on jobs, including those released by The Center on Budget and Policy Priorities, The Economic Policy Institute, and The Center for Economic and Policy Research.
Meanwhile, republicans can turn to a number of reports that back their claim, including those from The Heritage Foundation, The American Legislative Exchange Council and the American Enterprise Institute. However, if you take a closer look at these organizations you can't help but notice that the groups that are critical of raising the minimum wage are all decidedly conservative -- while those predicting no negative impact lean to the left.
On Tuesday, the non-partisan Congressional Budget Office released its own study on the impact of raising the minimum wage. Unfortunately, the report did little to settle the argument.
Democrats were quick to point to the report's findings that 16.5 million people would see more money in their paychecks, while republicans were just as eager to point to the 500-thousand jobs the CBO says will be lost as a result of the hike.
A Congressional vote is expected sometime in the next month, but the bottom line is this: The minimum wage remains an issue firmly divided along party lines, and isn't likely to go up anytime soon.
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