President Obama’s push to raise the minimum wage from its current $7.25 per hour to $9.50 will likely fall on deaf ears in Congress this year. The president also wants to index future automatic increases in the minimum wage to the inflation rate, an idea that Republican presidential candidate Mitt Romney actually supports.
Ten states already link their minimum wage hikes to inflation. Currently, 18 states have a minimum wage that’s higher than the federal rate. Find all state minimum wage figures at www.dol.gov/whd/minwage/america.htm.