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Latest Taxpayer's Tab: Minimum Wage Increase
April 8, 2013
In this week's edition of the Taxpayer's Tab, NTUF examined the possible budgetary impact of some of the latest legislative efforts in Congress.
Among the bills in the newest issue is H.R. 1010/S. 460, the Fair Minimum Wage Act of 2013. Introduced in the House by Rep. George Miller (D-CA) and in the Senate by Sen. Tom Harkin (D-IA), the Act would gradually raise the federal minimum wage to $10.10 over the next 2 years, and then index it to changes in the Consumer Price Index. It would also mandate that employees who receive tipped wages, such as restaurant waiters, be paid at least 70% of the minimum wage. The Congressional Budget Office determined its impact on federal outlays would be minimal, but the legislation could impose significant costs to the private sector. It was the most popular bill NTUF examined this week, with 134 cosponsors in the House and 26 in the Senate.
Also in the latest Tab:
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