Vice President Joe Biden says raising the federal minimum wage is good for business.

Biden is delivering the White House’s weekly radio and Internet address in place of President Obama, who was traveling this week. He’s urging Congress to pass Obama’s proposed wage hike to $10.10 per hour.

Biden says fair wages generate worker loyalty, leading to higher productivity and less turnover. He says it boosts the economy by generating $19 billion in additional income for the neediest people.

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