Charles Rangel: “I extend my strong support ``The Small Business and Work Opportunity Act of 2007'' as included in the Conference Report…”

“I extend my strong support ``The Small Business and Work Opportunity Act of 2007'' as included in the Conference Report to H.R. 1591. I am glad that both chambers of Congress, in passing this Conference Report, have spoken to the fact that an increase in the Federal minimum wage enjoys broad bipartisan, bicameral support, as does the approximately $5 billion in small business tax relief also included in the agreement. Passage of the Conference Report is an important step in achieving an important goal--ensuring an increase in the Federal minimum wage for hardworking American taxpayers. The minimum wage has not increased in more than nine years--the longest period in the history of the law. During that time, Members of Congress have received a $31,600 pay raise. More astounding is the fact that an average CEO earns more before lunchtime in one day than a minimum wage earner earns all year. Raising the minimum wage to from $5.15 to $7.25 an hour over two years would benefit 13 million Americans including 7.7 million women, 3.4 million parents, and 4.7 million people of color, and provide an additional $4,400/year for a family of three, equaling 15 months of groceries, or over two years of health care. It is wrong to have millions of Americans working full-time and still living in poverty, and at $5.15 an hour, a full-time minimum wage worker makes $6,000 less than the poverty level for a family of three.”