{"id":114597,"date":"2021-02-26T17:55:03","date_gmt":"2021-02-26T17:55:03","guid":{"rendered":"https:\/\/precoinnews.com\/?p=114597"},"modified":"2021-02-26T17:55:03","modified_gmt":"2021-02-26T17:55:03","slug":"democrats-vow-to-punish-firms-that-dont-pay-15-minimum-wage","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/politics\/democrats-vow-to-punish-firms-that-dont-pay-15-minimum-wage\/","title":{"rendered":"Democrats vow to punish firms that don&#x27;t pay $15 minimum wage"},"content":{"rendered":"<ul>\n<li>Democrats led by Sens. Bernie Sanders, I-Vt., and Ron Wyden, D-Ore., vowed to introduce an amendment that would penalize companies that pay workers less than $15 an hour.<\/li>\n<li>Sanders rebuked a key decision of the Senate parliamentarian, who determined Thursday that a proposed $15 minimum wage hike could not pass under the rules of budget reconciliation.<\/li>\n<li>Wyden says their plan would levy a 5% penalty on a big corporation&#x27;s total payroll if any workers earn less than a specified amount.<\/li>\n<\/ul>\n<p>Top Democrats are drafting new plans that would penalize big corporations that pay their employees less than $15 an hour after a Senate official ruled Thursday that the party could not include a wage increase in its $1.9 trillion stimulus bill.<\/p>\n<p>Democrats led by Sens. Bernie Sanders, I-Vt., and Ron Wyden, D-Ore., vowed to pursue amendments to the existing relief package that would punish corporations that pay workers below a certain hourly rate.<\/p>\n<p>Sanders was quick to rebuke the decision of Senate parliamentarian Elizabeth McDonough, who determined Thursday evening that a proposed $15 minimum wage provision did not meet strict budgetary standards imposed under the budget reconciliation process.<\/p>\n<p>&quot;I strongly disagree with tonight&#x27;s decision by the Senate Parliamentarian,&quot; Sanders said in a press release Thursday. &quot;In the coming days, I will be working with my colleagues in the Senate to move forward with an amendment to take tax deductions away from large, profitable corporations that don&#x27;t pay workers at least $15 an hour and to provide small businesses with the incentives they need to raise wages.&quot;<\/p>\n<p>&quot;That amendment must be included in this reconciliation bill,&quot; he added.<\/p>\n<p>Wyden, who is working closely with Sanders on the amendment, offered more details on the &quot;plan B&quot; Friday morning.<\/p>\n<p>He said his amendment, if accepted, would levy a 5% penalty on a big corporation&#x27;s total payroll if any workers earn less than a specified amount. Wyden added that the penalty would increase over time and include safeguards to prevent companies from trying to outsource labor to evade paying living wages.<\/p>\n<p>&quot;We couldn&#x27;t get in the front door or the back door, so we&#x27;ll try to go through the window,&quot; Wyden said of the new plan. &quot;While conversations are continuing, I believe this &#x27;plan B&#x27; provides us a path to move forward and get this done through the reconciliation process.&quot;<\/p>\n<p>The U.S. last raised the minimum wage to $7.25 an hour in 2009.<\/p>\n<p>Wyden, who is also the chairman of the Senate Finance Committee, added that his amendment would provide an income tax credit equal to 25% of wages, up to $10,000 per year per employer, to small businesses that pay their workers higher wages.<\/p>\n<p>A senior Democratic aide confirmed Friday that Senate Majority Leader Chuck Schumer, D-N.Y., is considering adding a provision to the bill in line with what Sanders and Wyden have proposed and penalize big corporations that don&#x27;t pay their workers at least $15 an hour.<\/p>\n<p>Though Democrats were more vocal about the parliamentarian&#x27;s decision, Republican Sen. Josh Hawley of Missouri is working to pass a new piece of legislation aimed at hiking the minimum wage for blue-collar workers.<\/p>\n<p>Hawley, who faced fierce bipartisan criticism for voting to overturn the election of President Joe Biden, announced Wednesday a bill that would grant low-wage workers a &quot;bonus&quot; through an automatic, advanceable tax credit.<\/p>\n<p>Hawley&#x27;s office touted the plan as better than a minimum wage hike because it &quot;does not place a major new burden on small businesses, many of which of are still recovering from harmful shutdowns.&quot;<\/p>\n<p>The senators will have their chance to introduce amendments to Biden&#x27;s $1.9 trillion stimulus plan after the House passes the legislation with a vote expected in the lower chamber later Friday. Democrats hold a thin 50-50 majority in the Senate with Vice President Kamala Harris the key tiebreaking vote.<\/p>\n<p>Still, debate over the bill in the Senate is expected to be rife with pitfalls since a single Democratic vote against the plan would sink it.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/02\/26\/democrats-vow-to-punish-firms-over-low-wages.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Democrats led by Sens. Bernie Sanders, I-Vt.,<\/p>\n","protected":false},"author":3,"featured_media":114596,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23055],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Democrats vow to punish firms that don&#x27;t pay $15 minimum wage - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/politics\/democrats-vow-to-punish-firms-that-dont-pay-15-minimum-wage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Democrats vow to punish firms that don&#x27;t pay $15 minimum wage - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Democrats led by Sens. 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