By Mike Bebernes, Editor, Yahoo News 360
Yahoo News, July 29, 2019
What's happening: Earlier this month, the House of Representatives passed a bill to gradually raise the federal minimum wage to $15 an hour by October 2025. The proposal would more than double the current national minimum wage of $7.25. That rate hasn’t increased since 2009 — it’s the longest period without a raise since the minimum wage policy was established in 1938. ...
The benefits would be seen across the U.S. economy.
“Higher minimum wages reduce employee turnover costs and increase worker productivity. They raise consumer demand by increasing the purchasing power of workers.” — Anna Godoey and Michael Reich, CNN ...
Leaving the minimum wage at the same level means allowing it to decrease in real value.
“When the minimum wage does not go up, it goes down in value relative to the cost of living.” — Holly Sklar, Detroit News ...
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