Tuesday, December 30, 2014
More States Than Ever Will Raise Their Minimum Wage On New Year's Day
If you're a minimum wage earner and of drinking age, be sure to raise a glass when the ball drops Wednesday night. There's a decent chance you'll be getting a pay raise.
Thanks to a raft of state-level laws and ballot measures this year, 20 states will be hiking their minimum wages on New Year's Day -- evidence of a growing nationwide move toward higher mandatory pay despite congressional inertia on the issue.
With a proposal to raise the $7.25 federal minimum wage to $10.10 languishing on Capitol Hill, more and more states are choosing to bypass Congress and raise the wage floor on their own. That trend has even come to red states like Alaska, Arkansas, Nebraska and South Dakota, where voters approved various minimum wage ballot measures in the November elections.