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Key Democrat Pushes 5% Penalty to Force Big Firms to Raise Wages

Feb. 26, 2021, 3:07 PM

Senate Finance Committee Chairman Ron Wyden says he will seek a 5% penalty on big companies that fail to pay employees a certain amount, what he calls a “Plan B” after the Senate parliamentarian ruled minimum wage can’t be included in stimulus legislation.

  • Plan would include safeguards to block companies from outsourcing labor to avoid paying “living wages” to employees, Wyden says in statement
  • Separately, Wyden says his plan would provide an income tax credit equal to 25% of wages, up to $10,000 per year per employer, for small businesses that pay their workers more
  • Earlier: Key Senators Float Corporate...

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