House Committee Approves Fair Compromise on Minimum Wage

The House Ways and Means Committee has approved giving some tax breaks to businesses as part of the federal minimum wage raise. The Washington Post reports…

“...the committee agreed to expand and extend a handful of tax credits and deductions worth $1.3 billion over 10 years. Those provisions would be offset by adjustments to the tax code that would raise a similar amount. The full House is expected to vote on the measure later this week, Democratic aides said.”

The House committee’s business tax cuts are far smaller than the $8.3 billion in tax breaks included in the Senate’s minimum wage legislation. The House originally passed a “clean” minimum wage bill. But the Senate rejected such legislation, and passed a minimum wage bill filled with give-aways to business. The House and the Senate bills must be reconciled in conference in order for the minimum wage raise to move forward.