Eva M. Clayton: “I am pleased that 20 of our Republican colleagues in the House now support an increase in the minimum wage. They join 3…”

“I am pleased that 20 of our Republican colleagues in the House now support an increase in the minimum wage. They join 3 recipients of the Nobel Prize in Economics, 7 past presidents of the American Economics Association and more than 100 distinguished economists nationwide who have signed a ``Statement of Support for a Minimum Wage Increase.'' Clearly, Mr. Speaker, the issue is compelling. Those economists recognize that profits are soaring, wages for workers are declining, and consumer demand is stagnant. That is a prescription for economic trouble. Middle and moderate-income Americans now feel the squeeze between profits and wages as much as the low income and the unemployed. Almost half of the money in America is in the hands of just 20 percent of the people. That top 20 percent is made up of families with the highest incomes. The bottom 20 percent has less than 5 percent of the money in their hands. A modest increase in the minimum wage could help the bottom 20 percent, and, it will not hurt the top 20 percent. The President has proposed such a modest increase in the minimum wage--an increase of 90 cents, over 2 years. Such an increase would mean an additional $1,800 a year for the working poor. That amount of money makes a big difference in the ability of families to buy food and shelter, to pay for energy to heat their homes, and to be able to clothe, care for and educate their children.”