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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.
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 ...
History of the US federal minimum wage. Lower line is nominal dollars. Top line is inflation-adjusted. [1] [2] 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.
Under the proposal, the minimum wage will increase to $8.00 in 2023, $8.75 in 2024, and 9.50 in 2025 until it reaches the $10 threshold. Smaller businesses with fewer than 20 employees will have a ...
Sen. Bernie Sanders (I-Vt.) said on Sunday that he hopes to work with President-elect Trump to raise the minimum wage from $7.25 an hour, the federal standard last raised in 2009. In an interview ...
Now, pointing to the state’s affordability issues, proponents of Proposition 32 would have you believe raising the minimum wage from $16 to $18 per hour offers a solution for entry-level workers ...
The Fair Minimum Wage Act of 2007 [3] is a US Act of Congress that amended the Fair Labor Standards Act of 1938 to gradually raise the federal minimum wage from $5.15 per hour to $7.25 per hour. It was signed into law on May 25, 2007 as part of the U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations ...
Seattle's minimum wage for large employers was raised to $15.45 in 2018 and $16 in 2019. Studies of Seattle's workforce have shown no decline in employment and tangible benefits for workers. [79] The Fight for $15 movement has succeeded in several states and cities in raising the minimum wage to $15 or more per hour.