Chris Dodd: “In response, the Senator makes a very good point. We have a tendency to think about raising the minimum wage as being a…”

“In response, the Senator makes a very good point. We have a tendency to think about raising the minimum wage as being a cost to society. What the Senator from Massachusetts is pointing out is quite the contrary. Raising the minimum wage is an overall benefit. In fact, the Senator is absolutely correct. In Great Britain, in fact, in no small measure because they have actually raised the minimum wage, the economy of that nation has improved. In the years since we have not increased the minimum wage in this country, we have watched millions more of our fellow citizens fall into poverty. There is a direct correlation. We now have some 13 million children in America living in poverty. What is the 21st century going to offer if we are raising a generation of so many of our children living in poverty? Overall, 37 million Americans are living below the poverty level. In fact, more than 5 million Americans have fallen into poverty in the last 5 years. In Great Britain, as the Senator points out, as a result of increasing the minimum wage, people have actually been lifted out of poverty and the economy of their country has improved. What the Senator from Massachusetts is offering today is substantially less than proposals he made earlier. This increase would be to $6.25, if we can get it approved. We ought to come together around this. What a great day it would be in America for the Senate, on a bipartisan basis, to support this modest increase in the minimum wage.…”