“It was never my intention to raise the minimum wage immediately and during the pandemic." President Biden has called for a $15-an-hour federal minimum wage, up from $7.25 currently, a move that would require action by Congress. Currently, the federal minimum wage is in force in 21 states that either don’t have a state minimum wage or set a level at or below $7.25 an hour. Depending on when a law is passed, and the effective date, Democrats’ minimum wage proposal calls for reaching $15 an hour a year sooner than called for in last year’s Democratic Party platform, which set a goal of a $15 minimum wage in 2026. But others say job losses tied to a $15 minimum wage could be more severe, especially in states with a relatively low cost of living.

Source: Mint February 05, 2021 19:07 UTC