The report looks at two options:
- The first would raise the wage in three steps every year through 2016 on July 1, to $10.10. Once the $10.10 wage is in effect, it would rise with inflation. CBO found that the range of job losses under this option would most likely be around 500,000 people. It estimated that 16.5 million workers would see their incomes rise, no consolation to those who lost their jobs.
- Option two increases the minimum wage to $9 per hour over the two years, without indexing it to inflation. This option would only kill 100,000 jobs.
The full CBO Report follows