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An increase in the minimum wage is a form of redistribution from higher-income persons (business owners or "capital") to lower income persons (workers or "labor") and therefore should reduce income inequality. The CBO estimated in February 2014 that raising the minimum wage under either scenario described above would improve income inequality.
The push to raise it has gone on for years because minimum wage workers stuck at $7.25 have lost substantial buying power. Had it just been adjusted for inflation since 2009, it would be $10.33 today.
For example, they look at the 1992 increase in New Jersey's minimum wage, the 1988 rise in California's minimum wage, and the 1990–91 increases in the federal minimum wage. In addition to their own findings, they reanalyzed earlier studies with updated data, generally finding that the older results of a negative employment effect did not hold ...
The federal minimum wage applies in states with no state minimum wage or a minimum wage lower than the federal rate (column titled "No state MW or state MW is lower than $7.25."). Some of the state rates below are higher than the rate on the main table above. That is because the main table does not use the rate for cities or regions.
(The Center Square) – Twenty-one states across the US are raising the minimum wage in 2025. Pennsylvania Democrats would like to see the commonwealth soon join their ranks. Sen. Art Haywood, D ...
This proposal aligns with more states seeking to increase minimum wages because of the increasing cost of living. If Harris’ pledge to increase the minimum wage to $15 gains traction, many lower ...
The Raise the Wage Act is a proposed United States law that would increase the federal minimum wage to US$17. [ 3 ] [ 4 ] Versions of the bill have been introduced in each United States Congress since 2017.
New federal data suggests that California's increase of the fast food minimum wage has cost jobs. The fast food industry added 9,118 jobs in 2023 between March and June for the typical ramp up ...