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Bill Pushes for Increase in Wages

Representative Jesse L. Jackson Jr. has put forth a bill that would immediately increase the federal minimum wage from $7.25 an hour to $10 an hour, requiring all nonexempt employers to come into compliance within 60 days. The bill would also index the minimum wage to inflation. The bill is known as the Catching Up To 1968 Act of 2012, a reference to the fact that in 1968, minimum wage workers earned $10 per hour, when adjusted for inflation. Rep. Jackson is attempting to reframe the bill as a stimulus measure, arguing that more money in workers’ pockets would lead to more spending, providing some additional momentum to a sluggish recovery.

Read More - http://www.nytimes.com/2012/06/07/business/bill-pushes-for-increase-in-wages.html


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