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Top Senate Democrats are pulling a plan to penalize large corporations that don’t have a $15 per hour minimum wage, two sources confirmed to The Hill.
Senate Finance Committee Chairman Ron Wyden (D-Ore.) and Senate Budget Committee Chairman Bernie Sanders (I-Vt.) floated their “Plan B” after the parliamentarian ruled that a straight increase of the federal minimum wage to $15 per hour didn’t comply with arcane budget rules that govern what can be included in the coronavirus relief bill.
Under the backup plan, outlined on Friday by Wyden, large corporations would get a 5 percent tax penalty if they paid workers less than a certain amount, with the amount of the penalty increasing over time. Democrats were also looking at giving tax incentives to small businesses to raise their wages.
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