As retailers like Walmart (WMT), Target and TJ Maxx (TJX) raise their wages to at least $9 an hour, the White House is renewing its push for Congress to hike the minimum wage.
U.S. Treasury Secretary Jack Lew says it just makes sense for the economy. “If you look at states and businesses doing it, if they’re willing to do it in a competitive environment, it proves that we could do it overall,” Jack Lew told CNNMoney’s Christine Romans Thursday.
When Lew talks to CEOs around the country, they sound more and more confident about the U.S. economy. That’s a good sign that better things — including higher wages — are likely ahead. “I have a great deal of confidence that as we raise the minimum wage, it’s going to boost a lot of economic activity in the process,” Lew says.
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