Senate passes minimum wage increase

The Senate approved the first increase in minimum wage in 10 years, bumping it to $7.25 per hour.

FEB 01, 2007

By Bloomberg

Bloomberg

The Senate approved the first increase in minimum wage in 10 years, bumping it to $7.25 per hour. The bill, which was approved by a 94-3 margin this afternoon, would increase the minimum wage from $5.15 during the next two years and pass along tax breaks to small businesses. Also, the bill will raise taxes on executives making more than $1 million per year.

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