Our colleagues at the Center for American Progress released a report showing that raising the minimum wage to $10.10 per hour would
lower government spending on the Supplemental Nutrition Assistance
Program (SNAP) by a whopping $46 billion over the next 10 years.
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Just a few months ago, Republicans pushed deep cuts in SNAP, also known
as food stamps, of $40 billion. What this research proves is that the
best way to reduce safety net spending is not by slashing this vital
assistance that lifts millions out of poverty; it's by improving
families' bottom lines by ensuring they are not earning poverty wages to
begin with.
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Those billions of dollars in savings also represent taxpayer subsidies
for low-wage employers. Many of these employers pay their workers so
little that they can't even afford to make ends meet, leaving them to
rely on government assistance to get by. Raising the minimum wage will
essentially roll back those subsidies, helping elevate millions out of
poverty.
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