The Congressional Budget Office and the Proposed Federal Minimum Wage. What's at stake?

According to the article in the ACA Times dated March 10, 2021, last month the Congressional Budget Office (CBO) divulged that 1 million Americans could be lifted out of poverty by raising the federal minimum wage to $15. per hour, under Raise the Wage Act (RWA) of 2021. Should this pass, the CBO believes the Raise the Wage Act will directly cause the lost of 1.4 million jobs, plus cost $54 billion over a 10 year period from 2021 through 2031.

Is it me or is there something about this that doesn't seem logical? Are there any winners? Do I win if my brother loses? I'm sure our brightest economists can come up with a better solution.

"What’s interesting is that the report projects 1.4 million Americans will lose their jobs once the federal minimum wage rate reaches $15 by 2025. The CBO also predicts that increasing the minimum wage under the Raise the Wage Act would increase the cumulative budget deficit by $54 billion dollars between 2021 and 2031. On the upside, however, nearly one million Americans will be lifted out of poverty. " - NICHOLAS STARKMAN

The Raise the Wage Act will also have some impact on Americans’ medical wellbeing as healthcare may be affected. As an unintended consequence, the Affordable Care Act will come into play. American workers will have to ask themselves this question, if their healthcare coverage changes...should they accept their employers medical package or look to state and federal health programs?

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Increasing the Minimum Wage Could Impact ACA Compliance How The Raise the Wage Act Could Impact ACA Compliance (acatimes.com)