Yesterday, President-Elect Biden introduced his initial plan to combat the economic effects of the COVID-19 crisis. The plan calls for raising the federal minimum wage to $15 per hour and provides relief to workers, families, and small businesses hardest hit by the pandemic, including essential and unemployed workers, renters, low-income families, and small businesses.
An estimated 6.4 million single LGBT adults and 324,000 same-sex couples would receive a direct payment of $1,400 under the plan, according to Williams Institute research. An estimated 1.7 million LGBT adults with children will receive an additional $600 per child.
Raising the minimum wage will also help millions of LGBT people and same-sex couples. The Williams Institute estimates that a $15 minimum wage would increase the wages of 1.5 million LGBT adults—over 900,000 who currently earn less and over 500,000 who would likely see ripple effects on their wages. Further, raising the federal minimum wage to $15 would lift 30,000 people in same-sex couples out of poverty, according to a 2016 Institute study.
The bill also provides other forms of relief that would support the most economically vulnerable LGBTQ people and families. Williams Institute research shows that LGBTQ people are disproportionately unemployed, food insecure, and living in poverty. According to data collected before the pandemic began, 9% LGBT adults were unemployed, 27% experienced food insecurity, 22% were living in poverty. On all measures of economic stability, LGBTQ people of color fare worse than their white counterparts.
While millions of Americans are suffering from the economic effects of the pandemic, our research shows that the recession has hit LGBTQ people particularly hard. President-Elect Biden’s plan will direct relief to vulnerable LGBT people, including those who face unemployment and economic insecurity, parents, and renters.
Key findings from Williams Institute research include
Before the pandemic began, 9% of LGBT adults were unemployed compared to 5% of non-LGBT adults.
One in five LGBT adults were already living in poverty. LGBT people of color are more likely to live in poverty than White LGBT people: 37% of Latino/a LGBT people, 32% of American Indian or Alaska Native LGBT people, 31% of Black LGBT people, 29% of Native Hawaiian or Pacific Islander LGBT people, 23% of Asian LGBT people, and 22% of multiracial LGBT people live in poverty, compared to 15% of White LGBT people.
27% of LGBT adults experienced food insecurity in the past year, including 38% of multiracial people, 37% of Black people, 32% of Latinx people, and 29% of American Indians and Alaskan Natives. One in four LGBT adults were enrolled in SNAP.
LGBT adults are more likely to be renters than non-LGBT adults: An estimated 50% of LGBT adults own their own homes compared to 70% of non-LGBT adults.
LGBT people and same-sex couples who are raising children are doing so with fewer economic resources than their non-LGBT counterparts.
