Explaining Analytical Methods

This interactive tool, updated in January 30, 2024, allows users to explore how various policies to increase the federal minimum wage would affect earnings, employment, family income, and poverty.

CBO estimates that the Center for Medicare & Medicaid Innovation’s (CMMI’s) activities increased federal spending between 2011 and 2020 and will also increase it from 2021 to 2030. In 2010, CBO projected that CMMI would produce savings.

CBO describes features of the Medicare and Medicaid improvement funds and how the funds are accounted for in CBO’s baseline and cost estimates.

The federal minimum wage is $7.25 per hour for most workers. In this report, CBO examines how increasing the federal minimum wage to $10, $12, or $15 per hour by 2025 would affect employment and family income.