We all knew it was coming and now it has finally been confirmed that the Senate's favorite Socialist will introduce legislation later this week calling for a $15 federal minimum wage. The pending release of the bill was confirmed earlier today by Bloomberg's Josh Eidelson. Apparently co-sponsored by fellow liberals, Senator Murray, Keith Ellison, Bobby Scott and Raul Grijalva, the bill will call for a $15 federal minimum wage to be fully implemented by 2024.

Bernie Sanders, Sen. Murray, Keith Ellison, Bobby Scott, Raul Grijalva et al will unveil bill Wednesday to raise minimum wage to $15 by 2024

— Josh Eidelson (@josheidelson) April 24, 2017

For those silly 'math' people out there, that's a mere 107% increase in minimum wage over just a few short years, which we suspect will at least slightly outpace inflation over the same period.

As our readers are undoubtedly aware, Bernie has long been an advocate of the $15 "living wage." The Daily Caller provided some background on the other sponsors' efforts to meddle in labor markets.

Murray has pushed for a federal minimum wage increase in the past, introducing the “Raise the Wage Act” in April 2015. The legislation called for the federal minimum wage to be increased from $7.25 to $12 an hour by 2020. The bill never made it far in the Republican-controlled Congress, but Murray has remained a leader in efforts to increase the federal minimum wage.

Ellison lost narrowly to Perez in the DNC chairperson race and remains a favorite among liberal activists. The progressive Minnesota-Democrat is a favorite among unions, and has been a strong advocate for the Fight for Fifteen movement.

Grijalva, who co-chairs the Congressional Progressive Caucus (CPC) with Ellison, was a part of efforts by the CPC to raise the minimum wage to $15 per hour in the summer of 2015. Shortly after Murray’s efforts, the CPC introduced the “Pay Workers a Living Wage Act” in July 2015.

Scott joined Murray in sponsoring efforts to get the minimum wage to $12 per hour in 2015, arguing (at the time) that a $12 minimum wage was much more politically feasible at the time.

We've written extensively about the unintended consequences of higher minimum wages, namely the pink slips that seem to come shortly after their implementation. So rather than rehash all of the stats, for those interested, here are a few of our favorite articles on the topic:

• Something "Unexpected" Happened When Seattle Raised The Minimum Wage
• Harvard 'Shock' Study: Each $1 Minimum Wage Hike Causes 4-10% Increase In Restaurant Failures
• State Minimum Wage Hikes Already Passed Into Law Expected To Cost 2.6 Million Jobs, New Study Finds
• Dear Bernie, Meet the "Big Mac ATM" That Will Replace All Of Your $15 Per Hour Fast Food Workers

Of course, given that Democrats don't control a single branch of the federal government at the moment, and the socialist party has never controlled a single branch to the best of our recollection, we're going to go out on a limb and guess that Bernie's bill won't get passed anytime in the immediate future. That said, at least he's one step closer to getting a bunch of fast food workers fired, and we're sure they really appreciate all his hard work.