Cushioning the Wage Hike for Small Biz
On a 54-43 vote in the Senate on Jan. 24, Democrats lost an effort to advance a House-passed bill that would lift the minimum wage from $5.15 to $7.25 an hour without any accompanying tax cut (see BusinessWeek.com, 1/10/07, "More Than the Minimum Wage"). The federal minimum wage has stood at $5.15 since 1997.
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