President Obama began a public push last month for Congress to raise the federal minimum wage from $7.25 to $9.00 per hour. “It might have some modest impact on (corporate) profits,” Obama admitted. “But those same businesses also have to worry about (whether) those customers have money in their pockets.”
Outlook: The proposal will have a tough time getting out of the House, where Speaker John Boehner, R-Ohio, recently said, “When you raise the price of employment, guess what happens? You get less of it.”
Several states set higher minimum wage levels than the federal $7.25 per hour. Find an interactive chart of state laws at the U.S. Department of Labor's website.