Even though Walmart has moved to increase employee wages, new data shows that the company’s workers will still cost U.S. taxpayers a pretty penny to make up for the dismal earnings they bring home from working for the retail giant.
Last year, Americans for Tax Fairness issued a report stating that U.S. taxpayers pick up a $6.2 billion tab annually to cover public aid expenses for Walmart workers earning low wages.
That report came months before Walmart announced in February that 500,000 of its full- and part-time U.S. workers would be getting a wage hike. The hourly minimum wage for Walmart employees went up to $9 in April and will increase to $10 by February 2016.
In light of Walmart’s new wage policy, Americans for Tax Fairness re-examined the taxpayer subsidy issue.
“Even after Walmart’s planned wage increases are fully implemented, large taxpayer subsidies will still be required to compensate for Walmart’s low wages,” the group concludes in its newest report.