Biden’s Minimum Wage Hike Could Wreak Havoc On Childcare Costs

(ReliableNews.org) – Joe Biden campaigned on a set of empty promises to build the nation’s economy and put millions of Americans back to work in the wake of the COVID-19 pandemic. However, his administration and Congressional Democrats are also trying to force a $15 minimum wage on companies already burdened with overly harsh quarantines and other restrictions.

Meanwhile, the nonpartisan Congressional Budget Office released a report on February 8, estimating about 1.4 million Americans would lose their jobs if the minimum wage were increased to that level.

Additionally, Heritage Foundation economics research fellow Rachel Greszler analyzed Democrats’ proposed minimum wage increase and determined it would raise childcare costs by about 21% nationwide. That stunning figure computes to an average increase of more than $3,700 for families with two children in the home, according to Greszler’s research paper, which was published on February 11.

Making matters worse, families in some of the nation’s poorer states like Mississippi and Louisiana would get hit the hardest by a higher minimum wage. According to Greszler, many families with median income levels could end up getting priced out of the childcare market altogether.

Actions have consequences. Too bad the Biden administration is hellbent on taking action first and considering consequences later — if at all.

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