Given the task definition and input, reply with output. In this task, you are given a text of many news articles seperated by special token "|||||". Your task is to summarize them.

The new findings by the nonpartisan CBO land in the middle of that debate. The CBO said that most low-wage workers would receive higher pay that would "increase their family's income," and some of those families would see their income "rise above the federal poverty threshold." ||||| And the White House, in an unusual twist, openly disputed the budget office’s math. 
  
 Jason Furman, the chairman of the White House’s Council of Economic Advisers, said that the office’s estimate of the potential lost jobs might be too high. In a call with reporters, Mr. Furman said that finding no jobs effect at all would be a “perfectly reasonable estimate.” 
  
 The analysis does not reflect “the consensus view of economists,” he said. “Sometimes, you have to have respectful disagreement.” 
  
 But the report was embraced by leading Republicans, who have opposed the legislation despite its widespread popularity in public opinion polls. “Raising the minimum wage could destroy as many as one million jobs, a devastating blow to the very people that need help most in this economy,” said Senator Mitch McConnell of Kentucky, the minority leader. “If and when Democrats try to push this irresponsible proposal, they should be prepared to explain why up to a million Americans should be kept from having a job.” 
  
 Democratic lawmakers and liberal groups joined the White House in challenging that view. “I haven’t seen Republicans this excited about something that bucked the trend in their favor since the last poll showing Mitt Romney was about to be elected president,” said Brad Woodhouse, the president of Americans United for Change, a liberal advocacy group. “But sorry to rain on their parade — one report does not a trend make.” 
  
 The budget office found that lifting the federal minimum wage, currently $7.25 an hour, would have a complicated effect on the labor market, acting as a boon and a burden for businesses and workers. ||||| The nonpartisan Congressional Budget Office is out with a new report on President Obama's proposal to raise the minimum wage from $7.25 to $10.10 an hour by 2016, and its most important finding is this: 
  
 The increase in the minimum wage would have two principal effects on low-wage workers: The large majority would have higher wages and family income, but a much smaller group would be jobless and have much lower family income. 
  
 More specifically, the CBO found that raising the minimum wage to $10.10 an hour (and then indexing it to inflation) would reduce employment by between a very small amount and 1 million workers, with the agency's best guess being about 500,000 workers. Republicans are seizing on that finding, with a spokesman for House Speaker John Boehner (R-Ohio) saying: "This report confirms what we’ve long known: While helping some, mandating higher wages has real costs, including fewer people working." 
  
 At the same time, the report finds that about 16.5 million low-wage Americans would see an increase in their earnings as a result of the hike in the minimum wage. A much smaller number of higher-wage earners would also see a jump in income, the CBO said. The agency explained the impact on employment this way: 
  
 According to conventional economic analysis, increasing the minimum wage reduces employment in two ways. First, higher wages increase the cost to employers of producing goods and services. The employers pass some of those increased costs on to consumers in the form of higher prices, and those higher prices, in turn, lead the consumers to purchase fewer of the goods and services. The employers consequently produce fewer goods and services, so they hire fewer workers. That is known as a scale effect, and it reduces employment among both low-wage workers and higher-wage workers. Second, a minimum-wage increase raises the cost of low-wage workers relative to other inputs that employers use to produce goods and services, such as machines, technology, and more productive higher-wage workers. Some employers respond by reducing their use of low-wage workers and shifting toward those other inputs. That is known as a substitution effect, and it reduces employment among low-wage workers but increases it among higher-wage workers. 
  
 The CBO summarizes the effects in this helpful chart. (The agency also analyzed a $9-an-hour minimum wage option that is not indexed to inflation.) 
  
 The CBO's report reminds us that the main effect of raising the minimum wage is to redistribute income from consumers and owners/higher-wage earners to lower-wage earners. As this chart shows, most people earning under six times the poverty line would benefit from the increase. 
  
 Finally, the CBO report offers a useful historical analogy for the proposed increase. Over the past 30 years, an average of roughly 5.3 percent of workers earned between the old and new minimum wages when Congress legislated a change. This time, under the $10.10 option, 10.1 percent of workers do. That's a testament to not only how far the minimum wage has fallen in real terms but also to how significant the increase would be relative to the size of the workforce. |||||

Democrats argue that President Obama's plan to raise the minimum wage will lift people out of poverty, while Republicans say the move will kill jobs—and the nonpartisan Congressional Budget Office says they're both right. The CBO has stoked debate with a report estimating that the plan to raise the minimum wage from $7.25 to $10.10 by 2016 would cost somewhere between very few and 1 million jobs—its best guess is 500,000—while lifting around 900,000 families out of poverty and boosting the incomes of 16.5 million low-wage workers, reports the Los Angeles Times. The CBO report includes an analogy that shows just how far the minimum wage has fallen in real terms, the Washington Post finds. Over the past 30 years, an average of 5.3% of workers earned between the old and new minimum wages when Congress brought in a hike, but under the proposed rise, 10.1% of workers do. The White House, unusually, disputed the CBO's findings, saying the lost jobs estimate is probably too high, reports the New York Times. Top Republicans, however, welcomed the report, with Senate Minority Leader Mitch McConnell calling the proposed wage rise a "devastating blow to the very people that need help most in this economy."