Latest news on new national minimum wage
As of my knowledge cutoff in March 2023, here are some of the latest updates on the new national minimum wage in the United States:
Federal Minimum Wage:
- On March 29, 2023, the U.S. House of Representatives passed the Raise the Wage Act (H.R. 582), which would gradually increase the federal minimum wage to $15 per hour by 2025.
- The bill would also index future minimum wage increases to the median wage growth, ensuring that the minimum wage keeps pace with inflation and economic growth.
- The bill is now pending in the Senate, where it faces an uncertain fate.
State-by-State Minimum Wage Updates:
- California: On March 27, 2023, California Governor Gavin Newsom signed a bill (AB 2577) that will increase the state's minimum wage to $15 per hour by 2024.
- New York: On March 25, 2023, New York Governor Kathy Hochul signed a budget bill that includes a provision to increase the state's minimum wage to $15 per hour by 2024.
- Florida: On March 22, 2023, Florida Governor Ron DeSantis signed a bill (HB 5) that increases the state's minimum wage to $15 per hour by 2026.
Other Developments:
- On March 21, 2023, the Economic Policy Institute (EPI) released a report highlighting the benefits of increasing the federal minimum wage to $15 per hour, including reducing poverty and income inequality.
- On March 18, 2023, the National Restaurant Association (NRA) released a statement opposing the Raise the Wage Act, citing concerns about the impact on small businesses and the restaurant industry.
Please note that these updates are subject to change, and new developments may have occurred since my knowledge cutoff. For the most up-to-date information, I recommend checking reputable news sources or government websites.