The majority of small business owners support increasing the federal minimum wage to $10.10 per hour and adjusting it yearly to reflect the cost of living: 57% of small business owners support increasing the federal minimum wage of $7.25 in three stages over two and a half years to $10.10, and believe that it should be adjusted annually to keep pace with the cost of living. (Small Business Majority poll)
Over 600 economists, including some Nobel Laureate’s signed a letter in support of a $10.10 minimum wage.
[The horizontal red line in the Times graphic indicates the hourly wage necessary for a single parent working full-time with one child to avoid poverty.]
State Minimum Wage
HB 501 (2013)
- Set the state minimum wage at $7.25 or the federal minimum wage law.
- Tipped employees who receive more than $30 a month in tips directly from the customers will receive a base rate from the employer of not less than 45 percent of the applicable minimum wage.
- Passed by the House on a roll call vote.
- Killed by the Senate on a roll call vote.
Federal Minimum Wage
For Tipped Workers:
- Members of Congress voted to increase their salary 13 times since they set the tipped minimum wage at $2.13 an hour…back in 1991.
- Tipped workers make up the bulk of the working poor.
For Hourly Workers:
- The federal minimum wage is $7.75 an hour, about $16,000 per year, gross, for full time work.
- In inflation-adjusted terms, the minimum wage, though higher than it was a decade ago, is still well below its 1968 peak (when it was worth about $10.70 an hour in today’s dollars), and it’s still poverty-level pay.
- Almost a quarter of American children have a parent who earns minimum wage.
Raising the Wage Floor
- Will boost the incomes of 30 million Americans.
- Puts money into the hands of people who will spend it in their communities
- While opponents of a minimum wage increase claim that it will hurt job growth, research points to the opposite. There is little evidence that it would hurt jobs, but it would very likely help businesses through increasing demand, lowering turnover, and boosting prices and would give the economy a big boost thanks to more money in people’s pockets to spend on purchases.
- Adjusts for inflation
- If it had kept up with inflation since its peak in the 1960s it would be over $10 an hour.
- Supported by Americans
- A recent poll showed that 80 percent of Americans support raising the wage to $10.10 an hour, and that includes two-thirds of Republicans and nearly 80 percent of those making $100,000 or more.