A $121 billion increase in wage bills vs. benefits for 39.7 million low-wage workers, their families, and their communities. That is the massive impact of doubling the current federal minimum wage to $15. 

The Connecticut Senate passed a bill elevating the minimum wage to $15 per hour, joining a small group of states, including New Jersey, Illinois, Massachusetts, New York, Maryland, and California, who support this wage increase.

Though economists have had mixed reactions regarding the wage increase proposal, it will benefit the working poor and the economy long-term. The wage increase would inevitably empower workers to purchase more, stimulating consumer demand. As a result, businesses benefit, and the overall ecosystem creates more jobs that positively impact the nation's economy.

The wage increase would also reduce the income disparity between the lowest-paid workers and other organizational ranks. This would result in low employee turnover and increased productivity amongst the workers.

When businesses take care of their workers, especially financially, an increase in job performance is almost always reflected. Happier, healthier workers, especially ones who feel like their efforts are being adequately-rewarded, are a win, all the way around. 

Overall, the benefits of a wage increase to $15 per hour would be massive, elevating millions of workers' quality of life and reversing decades of growing pay inequality. This is the right move for long-term financial growth and the well-being of people who are so much more than just their work identities.

Connecticut is making the right move for its people, and other states would do right to follow their example.