PolitiFact's ruling: False Herre's why: President Joe Biden’s proposal for a $1.9 trillion economic rescue package calls for more than doubling the federal minimum wage, which was last raised over a decade ago. The plan has stirred up online chatter about the impact of a proposed $15-an-hour federal rate, with one conservative commentator warning that it would send prices soaring. "If you want $15 minimum wage, don’t complain when your Taco Bell order costs $38 for a burrito," said Jordan Rachel, a Turning Point USA contributor, in a Jan. 16 tweet. Business groups have long opposed sharply higher minimum wages on the grounds that they would hurt employment and raise consumer prices.