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Research Roundup 6/22: The Minimum Wage and Communities of Color, $64 Billion in Megadeals, the Economic Benefits of Immigration Reform, and More
PSN on June 22, 2013 - 12:01pm
Realizing the Dream: How the Minimum Wage Impacts Racial Equity in the Restaurant Industry and in America [Restaurant Opportunity Center]
This report looks at the impacts of the full and tipped minimum wage on communities of color and concludes that "nearly six million workers would be lifted out of poverty if the minimum wage were raised to $10.10 as has been proposed in Congress, of which 60%, or over three and a half million would be people of color. Over 500,000 of these would be restaurant workers, and nearly 300,000 of these would be workers of color. "
Megadeals: The Largest Economic Development Subsidy Packages Ever Awarded by State and Local Governments in the United States [Good Jobs First]
"In recent years, state and local governments have been awarding giant economic development subsidy packages to corporations more frequently than ever before. The packages frequently reach nine and even ten figures, and the cost per job averages $456,000 and often exceeds $1 million."
States Should React Cautiously to Recent Income Tax Growth [Center on Budget and Policy Priorities]
"Recent tax collections are considerably higher than last year in most states and, in many cases, exceed states’ projections when they adopted their current budgets in the spring of 2012. In 32 states for which data are available, state tax collections in the first ten months of fiscal year 2013 were 5.7 percent higher than in the same period last year, on average... States should proceed with caution as they consider how to use these surplus revenues."
The Power of Reform: CBO Report Quantifies the Economic Benefits of the Senate Immigration Bill [Immigration Policy Center]
"On June 18, 2013, the Congressional Budget Office (CBO) and Joint Committee on Taxation issued two reports on S. 744. The first one analyzes (or “scores”) the fiscal impact of the bill over the next 20 years and the second one focuses on the impact some aspects of the bill would have on the U.S. economy. According to these reports, the expected fiscal and economic effects of the bill are overwhelmingly positive. All in all, S. 744 will help reduce the federal budget deficit by $1.1 trillion over 20 years, will boost the economy, and will not negatively affect U.S. workers."
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(This article originally appeared in the Stateside Dispatch, Progressive States Network's email roundup of the latest state policy news. Read the full Dispatch here or Sign up to receive the Dispatch in your inbox here.)