2013 When Do Stamps Go Up
Updated May 8, 2013: President Obama has called for an increase in the federal minimum wage - to at least $9 an hour. In addition, President Obama has also proposed indexing the minimum wage to inflation, so it would increase when the cost of living increases.
The Fair Minimum Wage Act of 2013 has been introduced in the U.S. Senate and House of Representatives. If passed, it would raise the federal minimum wage from $7.25 to $10.10 per hour by 2015, and adjust it each year after that to keep up with the rising cost of living. The legislation would also increase the minimum wage for employees who receive tips.
The legislation is currently in committee and would need to be passed by both the Senate and the House for the increases to go into effect. Until legislation is passed there will be no date set for a minimum wage increase.
Here's a list of the current minimum wage rate for each state. The minimum wage increased in 10 states on January 1, 2013. Here's a list of the states and the new minimum wage for each location.
- Arizona - $7.80
- Colorado - $7.78
- Florida - $7.79
- Missouri - $7.35
- Montana - $7.80
- Ohio - $7.85
- Oregon - $8.95
- Rhode Island - $7.75
- Vermont - $8.60
- Washington - $9.19
New York has passed an increase in the minimum wage to $9 per hour which goes into effect over 3 years, starting at the of 2013. There will be an increase to $8 per hour at the end of the year, followed by an increase to $8.75 a year later, then to $9 per hour the following year.
The federal minimum wage remains at $7.25 per hour. The last increase was in 2009. If an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher of the two minimum wages.
What do you think? Should minimum wage be raised?
Read More: How Much is Minimum Wage? | What is the Minimum Wage? | Fair Minimum Wage Act of 2013
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