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How Much Is the $ 15 Minimum Wage Really Worth?

* See last year’s report on Ohio’s minimum wage increase. *

(KXAN) — Millions of American workers haven’t seen a $ 7.25 minimum wage rise for more than a decade, Push by Biden administration and Washington Democratic Party It may give these workers a double salary increase.

As part of President Joe Biden’s $ 1.9 Trillion COVID-19 Relief PackageThe federal minimum wage will increase to $ 15 by 2025. Many in Congress and elsewhere say it’s too much.

Well, depending on where you live, it may not be Sufficient..

New map created by Business Insider Shows the actual increase in minimum wage workers in each state.While Economic Policy Research Institute Approximately 32 million Americans report an overall salary increase, but how many workers in each state could actually be reduced due to where they live?

This map, using information from the Department of Economic Analysis, will cost $ 15 considering the state’s “regional price equivalence” or will cost more goods and services compared to other states. Shows how much there is.

In Hawaii, the state of 119.3 RPP (19% higher than the national average) has a minimum wage of $ 15, which is equivalent to earning $ 12.57 per hour. On the other hand, Mississippi’s $ 15 minimum wage actually feels like earning $ 17.77 per hour. This is the highest wage on the map.

Texas’s $ 15 minimum wage is ranked at $ 15.54 per hour and feels about $ 15, but the estimate is that $ 15 per hour feels like $ 14.85, except in Florida. It is lower than most southern states.

There are pros and cons to raising the minimum wage, but Felix König, an assistant professor of economics at Carnegie Mellon University, told business insiders that living expenses should be taken into account in the minimum wage negotiations.

In addition, living expenses are always in flux, so König explains:

How Much Is the $ 15 Minimum Wage Really Worth?

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