29 States, including my home State of New York, and the District of Columbia guarantee a minimum wage higher than that required by Federal law. These States recognize that $7.25 an hour is not enough to support an individual or a family of four's basic needs. No American who works full time should have to live in poverty. Because the minimum wage has not kept pace with inflation, today, it holds less buying power than it did in 1981. This is unacceptable. Raising the minimum wage will not only increase earnings for millions, but it will also increase consumer demand by bolstering the purchasing power of low-income Americans. Eighty-eight percent of those who would benefit from a Federal minimum wage increase are 20 years old or older and 55 percent are women. While New York is on track to increase its minimum wage to $9 by 2016, State-by-State increases are not enough. Sixteen States remain at or below the Federal level, and disparities between the States creates economic uncertainty. The time to raise the Federal minimum wage is now. ____________________
On the recordJanuary 13, 2015
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