Amy Traub

About that raise…

For a moment there, it looked like the nation was finally on its way to raising the minimum wage.

By now, most of us know the story: stuck at $5.15 an hour for nine long years, the minimum wage has declined in value by more than 17%. Today it would have to reach $9.26 to match its inflation-adjusted value back in 1968.

But it looked like things might finally be turning around. Earlier this week, the House Appropriations Committee voted to approve an amendment to the Labor, Health, and Human Services appropriations bill that would raise the federal minimum wage to $7.25. The amendment passed with bispartisan support. Now, however, Congress Daily (subscription required) is reporting that the overall appropriations bill will not reach the floor next week and might be stalled until after the midterm elections, in part to prevent the minimum wage increase from coming to a vote before the full House.

Maybe it shouldn't come as surprise, but it's still depressing. As Arkansas' Republican Governor, Mike Huckabee noted "There is not anything that any of us purchase that costs the same or less today than it did in 1997." Yet the federal minimum wage is still stuck in the past.

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Posted at 5:20 PM, Jun 15, 2006 in Economic Opportunity | Economy | Employment | Politics
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