Raising minimum wage to $15 would increase tax revenue by $2.4 billion in Illinois AND increase housing affordability

Raising the minimum wage stands to impact Illinois workers’ ability to sustain families and cover expenses including high housing costs. Whether in the form of rent or mortgage payments and maintenance costs, housing costs make up the largest monthly expense for most households. However, a common concern is that raising minimum wage may actually increase unemployment.

Findings from our report The Impact of a Minimum Wage Increase on Housing Affordability in Illinois suggest that raising the minimum wage will not only increases housing affordability, it will raise tax revenue and have minimal impact on employment levels. This report is timely, as minimum wage bills make their way through the legislative process. Continue reading

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