House Votes to Raise Minimum Wage

The House voted to increase the federal minimum wage from $5.15 to $7.25.

to be first increase since 1997

the $2.10-an-hour increase would happen in three stages
1. to $5.85 per hour 60 days after being signed into law
2. would then rise to $6.55 per hour one year later
3. to $7.25 after two years

about $4,000 per year extra to a minimum-wage employee working full time

16 percent of the workforce, or 237,000 workers, would be affected

centerpiece of the Democratic party’s 100-hour domestic legislative agenda

82 Republicans joined all 233 Democrats in approving the plan

60 votes needed in the Senate, where approval of the minimum-wage hike will likely be tied to tax breaks for small businesses to help offset any new costs from higher wages

Meanwhile, Walmart issued a press release reminding one and all that in October 2005, Wal-Mart CEO Lee Scott "publicly called for Congress to raise the minimum wage to help working families, saying that $5.15 an hour was out of date with the times."