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Galraedia

(5,255 posts)
Thu Jan 16, 2025, 05:48 PM Jan 16

Trump's Billionaire Treasury Nominee Says Federal Minimum Wage Should Remain at $7.25 Per Hour [View all]

During his Senate confirmation hearing, President-elect Donald Trump's nominee for Treasury Secretary—billionaire hedge fund manager Scott Bessent—clearly stated his opposition to raising the federal minimum wage.

Senator Bernie Sanders (I-VT) questioned Bessent on the issue, highlighting that over 22 million American workers earn less than $15 an hour, with nearly 40 million earning under $17. Sanders criticized the stagnant federal minimum wage of $7.25 an hour—which has not increased since 2009—and asked if Bessent would support efforts to raise it to a living wage.




"Senator, I believe the minimum wage is more of a statewide and regional issue," Bessent responded, signaling his opposition to federal action on wage increases.

"So you don't think we should change the federal minimum wage of $7.25 an hour?" Sanders clarified.

Bessent's simple reply of, "No sir," as he laced his fingers together ended the exchange.

Read more: https://www.latintimes.com/trumps-billionaire-treasury-nominee-says-federal-minimum-wage-should-remain-725-per-hour-572500
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