“[April 5, 2021], CBO updated its interactive tool—initially released in November 2019—that allows users to create custom policy options to examine how different approaches to changing the minimum wage would affect earnings, employment, family income, and poverty. The estimates shown in the tool were generated using the same methods underlying CBO’s most recent reports on minimum-wage increases: The Budgetary Effects of the Raise the Wage Act of 2021, published in February 2021, and The Effects on Employment and Family Income of Increasing the Federal Minimum Wage, published in July 2019. This blog post provides some additional information about the tool’s estimates and the methods used to generate them.”