Minimum wage raised to $10/hr?
President Obama is making headlines for his decision to support Senate Majority Leader Harry Reid's Harkin-Miller bill, which is also know as the Fair Minimum Wage Act. This bill proposes raising minimum wage to at least $10/hr. That change would not occur all at once, but over a few years time.
“The president has long supported raising the minimum wage so hard-working Americans can have a decent wage for a day’s work to support their families and make ends meet,” a White House official told NY Times.
The last time minimum wage was raised was in 2007 when it went to $7.25. Many Republicans and some Democrats are worried that a change so drastic will cause many employers to cut jobs. Therefore Republicans will have a rebuttal to the bill to compromise and find a way to improve the workforce.
"We're going to have some ideas about job creation and supporting higher wages by creating more jobs and more demand for labor," Sen. John Hoeven, R-North Dakota told CNN's Political Ticker.
The change could be quick, even in a few weeks' time if Reid gets his way. That will mean that minimum wage could begin to change incrementally right around the holidays.