Why do policymakers think such a high minimum wage may be appropriate?
Last summer the District of Columbia’s increased its minimum wage to $10.50 an hour, which is currently the highest for any U.S. state or territory. This July the District’s minimum wage will rise again to $11.50 an hour. Then, on Nov. 8, 2016 D.C. voters may consider an initiative to increase the minimum wage to $15 an hour by 2020, resulting in even more job losses, while business owners and consumers face higher prices.
Why do policymakers think such a high minimum wage may be appropriate? A recent article by the Brookings Institution points out that: