April 26, 2018 1:40 am

San Francisco Second US city to raise minimum wage to $15

Tuesday saw San Fransisco become the second city in the U.S. to raise the minimum wage to $15 an hour. This motion was approved after 77% of voters agreed that minimum wage should be gradually inctrased from $10.74 to $15 an hour.

This decision is following the state of Seattle’s approval in June to raise its minimum wage to $15, the highest level in the nation.

The changes implemented by this law will see a gradual increase starting in January 2015 and eventually reaching the $15 an hour by 2018. Once this has been reached, the minimum wage will be determined by assessing the rate of inflation in the specific area. This is a leap forward to close the growing gap separating the rich from the poor, this is just the beginning of the changes to be expected across the nation to give people access to the living wage.

Other states have also approved the proposal to raise the minimum wage. Those states are joining 12 others to raise their state minimums.

The push forward has been staggered in Congress. There have been some disagreements by the democrats from raising the federal minimum from $7.25 an hour to $10.10 an hour, this was before the legislation was even introduced

The brighter side here is that Obama has issued an order mandating that companies with federal contracts pay their workers at least $10.10 per hour.

These steps are in the right direction. Raising the minimum wage shouldn’t be an argument, paying for your groceries and making rent, is probably not so easy on minimum wage. Raising minimum wage may make that difference in people’s lives, perhaps get them over that poverty line.

What are your thoughts? Tell us in the comments.

via CNN


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Elizabeth Steinfeldt

Elizabeth Steinfeldt

Writing/Blogging about Finance, Investing, Economy, World News!