Senate Democrats are dropping a plan to raise the federal minimum wage through a corporate tax penalty amid concerns that its inclusion in the $1.9 trillion coronavirus relief package could delay the bill's passage, according to a source familiar with the matter.

The plan, introduced last week by Senate Finance Chairman Ron Wyden and Senate Budget Chairman Bernie Sanders, included tax penalties on large corporations that fail to pay $15 an hour and incentives for the "smallest of small businesses" to encourage them to raise their wages. READ MORE