- March 4, 2021
- Colorado Fiscal Institute
- Chris Stiffler
- Even though Colorado voters have approved a minimum wage in excess of the Federal wage, the current $15 per hour plan to gradually increase the federal minimum wage would increase wages for more than 550,000 Coloradans by 2025.
- The proposed federal changes in the wage level restore the purchasing power of the minimum wage to levels not seen since the late 1960s.
- Workers who earn low incomes tend to spend—rather than save—a high percent of their income. This increase in wages can increase local economic activity.