One way that raising the minimum wage will be beneficial is that it could lift many Americans out of poverty. Raising the minimum wage in Illinois would help the families of more than 1.1 million working people meet their children's basic needs and “reduce the negative effects of poverty on children's well-being” (Fiscal Policy Center). Studies have shown that raising the minimum wage would help the 1 in 5 Illinois families who are in poverty. Raising the minimum wage in Illinois would help workers with families spend money on food, housing, gas and other needs without going into poverty. In addition to lifting Americans out of poverty, raising the minimum wage could also spur economic growth. Raising the minimum wage is spurring economic growth by worsening income inequality and substantially reducing company employee turnover. Raising a person's income would increase their annual earnings by $3,640 and “improve economic security and reduce the economy's poverty rate” (Fiscal Policy Center). Low-wage workers spend most of what they earn on their basic needs, which is spent quickly and does not leave the worker with much money to spend on other needs. This minimum wage increase will stimulate the economy and help create opportunities for more people by hiring more workers to keep up with the situation.