Minimum wage bill pushes federal increase to $10 an hour
It appears federal lawmakers can agree on one thing. Reps. John Conyers, Jr. (D-Mich.), Jesse Jackson, Jr. (D-Ill.) and Dennis Kucinich (D-Ohio) are pushing legislation that will raise the federal minimum wage to $10 hour. The “Catching Up To 1968 Act of 2012” would increase the minimum wage and mandate that the minimum wage be automatically adjusted to meet rising inflation. Republicans and Democrats on the Hill are supporting the legislation and both President Obama and Mitt Romney also agree that the current wage is to low and should be adjusted to match 2012 cost of living index. The Huffington Post reports:
The minimum wage hasn’t kept pace with inflation, according to three Democratic U.S. Congressmen. They want to correct the situation by boosting the federal standard to $10 an hour.
Reps. John Conyers, Jr. (D-Mich.), Jesse Jackson, Jr. (D-Ill.) and Dennis Kucinich (D-Ohio) announced the introduction of The “Catching Up To 1968 Act of 2012” at a press conference in Washington, D.C., Wednesday. The proposed bill would bump the minimum wage up from $7.25 an hour and require an annual increase tied to inflation.
The congressmen said that even at $10 an hour, the minimum wage would still be below 1968 levels when adjusted for inflation.
“This legislation is long-overdue and sorely needed,” said Conyers. “More than 30 million Americans would see their wages increased, which would provide an immediate boost to the economy.”
Read the rest of this story here.
More About:Business
You Might Like
