The House of Representatives on Thursday passed a bill to raise the federal minimum wage to $15 an hour by 2025 in a 231-199 vote. If passed into law, the legislation would raise the federal minimum wage, which is currently $7.25 an hour, for the first time since 2009. House Speaker Nancy Pelosi (D-Calif.) celebrated this "historic day," saying that "no one can live in dignity with a $7.25 an hour wage." Republicans oppose the bill, arguing it would result in the loss of jobs, and it's not expected to advance in the Senate. "This would depress the economy at a time of economic boom," Senate Majority Leader Mitch McConnell (R-Ky.) said on Thursday. "We're not going to be doing that in the Senate."

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