Quote:
Originally Posted by Ezliving_Jim
New Federal Minimum Wage
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3 step increase is scheduled as follows:
$5.85 - Summer of 2007
$6.55 - Summer of 2008
$7.25 - Summer of 2009
Federal Minimum Wage Bill approved by Congress with the President's support.
The Federal Minimum wage increase is soon to become a reality in a matter of short days for all minimum wage earners across America. Congress on Thursday, May 24, 2007 approved the Federal Minimum Wage increase and a spokesman for President Bush said he would sign the bill into law. If President Bush signs the bill into law, it will take two months from the day of the signing for the law to go into effect. The pay increase will be a total of $2.10 and it will be increase in three increments, first increase of .70 cents will occur before the end of summer of 2007 making the new minimum wage $5.85 per hour, another .70 cents increase sometime next year will make the minimum wage $6.55 per hour and the final increase of .70 cents will put the new minimum wage at $7.25 per hour by summer of 2009.