Saturday, July 29, 2006

Minimum Wage To Be Raised By 2009...

Today Reuters reports that the House of Represenetives voted 230-180, to raise the minimum wage to $7.25 by mid 2009. It will be raised 70 cents in three steps by that time. The current minimum of $5.15 has been in place for almost a decade. I'm not certain what the effect will be on the economy, some experts have their theories...and some, other theories.

1 comment:

Andrew said...

This increase will be great for those living on minimum wage, which is millions of people in this country. Still $7.25 an hour is not going to suffice for people to be able to move out of their economic position. As minimum wage creeps up the cost of living soars.