Tom Steyer Promises $22 Minimum Wage Despite CBO Predicting Even $15 Would Cost Over a Million Jobs

While Democrats are already attacking President Trump’s proposed 2021 budget that drastically cuts spending, some of them are making some “unrealistic” proposals of their own.

Fringe billionaire 2020 candidate Tom Steyer has vowed to push for a $22 minimum wage if elected President.

The Hill reports Democratic presidential hopeful Tom Steyer just vowed to raise the minimum wage to $22 per hour if he gets elected.

A Fox news article chronicled his announcement, originally made during a campaign block party on Sunday in South Carolina.

The current minimum wage is set at $7.25 per hour at a federal level, though many states have raised it to compete with higher costs of living.

Steyer, a billionaire whose campaign is focused on tackling environmental issues, joins other candidates like former Vice President Joe Biden and Sens. Bernie Sanders (I-Vt.) and Elizabeth Warren (D-Mass.) as they advocate a $15 per hour minimum wage.

Politico reports that Steyer has reportedly spent approximately $14 million in television and radio ads in South Carolina, and he sees the state as crucial to his campaign’s success as his fellow candidates focus on the New Hampshire primary.

CNBC reported in June of last year, hiking the U.S. minimum wage to $15 per hour would give millions of Americans a raise but put a smaller share of people out of work, according to projections released Monday.

Raising the pay floor to $15 per hour by 2025 would boost wages for 17 million workers, the nonpartisan Congressional Budget Office estimated. At the same time, 1.3 million people would lose jobs, according to the CBO projections.