The Federal And State Minimum Wage Growth, And Inflation
The Federal and State Minimum Wage Growth, and Inflation
For some time now, the United States House and Senate has predominately been controlled by the Republican Party. The November 2006 elections changed that. After the elections the Democratic Party gained control of both. With that came the issue of the federal minimum wage. Democrats wanted to increase the minimum wage from $5.15/hr to $7.00/hr. This was a highly debated topic, because many Americans, myself included, didn’t feel that the minimum wage coincided with the cost of living or the inflation rate. The two parties were basically split, by party, on whether or not to vote for the increase. Both had valid points for and against, and the vote was close. However the change was not voted through, and for right now it remains at $5.15/hr at the federal level. Although it didn’t pass federally, individual states were able to bring about their own change. Those against the increase argued that the effects of an increase......
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