President Obama, along with Senate Democrats, have been making their case for a minimum-wage increase from the current $7.25 an hour to $10.10 an hour. If the wage hike goes into effect, it is expected to boost the earnings of about 16.5 million American workers. However, the Congressional Budget Office released a report showing an increase in minimum wage could lead to a reduction in total employment of .3%, or about 500,000 workers.

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