SHAHEEN SUPPORTS INCREASING MINIMUM WAGE TO $12 BY 2020April 30, 2015
(WASHINGTON, DC) – Today U.S. Senator Jeanne Shaheen (D-NH) offered her support to legislation raising the national minimum wage from $7.25 to $12.00 by the year 2020. The Raise the Wage Act, of which Shaheen is an original cosponsor, would increase wages for nearly thirty eight million Americans. The legislation would be particularly beneficial to New Hampshire, which does not have a state minimum wage law and instead relies on the current federal minimum wage.
“No one who is working full time should live in poverty,” Shaheen said. “Hard working people and families in New Hampshire and across the country are long overdue for a raise. Nationally, nearly two-thirds of minimum wage earners are women, and in New Hampshire seventy percent of minimum wage earners are women. I hope my colleagues in the Senate will join me in supporting the Raise the Wage Act so that we can help lift families out of poverty and improve our economy.”
Over the last 40 years, the federal minimum wage has lost more than 30 percent of its buying power; if it had kept pace with the increased cost of living, the minimum wage would currently be $10.80 per hour.
Raising the federal minimum wage to $12.00 would result in an average annual raise of $2,800 for more than 147,000 Granite Staters. The Raise the Wage Act would put more than $411 million into New Hampshire worker’s pockets, improving financial security for families and boosting the economy.
The Raise the Wage Act would also index the minimum wage to the national median wage starting in 2021. It would also eliminate the tipped minimum wage by gradually raising the cash wage over ten years from the current $2.13 per hour to match to the new regular minimum wage of $12 per hour.
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