Minimum wage has stagnated for 17 years — it’s time for a pay bump
Key takeaways
- But for most workers, the most immediate problem is simpler: their paychecks are too low.
- America s affordability crisis is fundamentally a wage crisis, and increasing the minimum wage is the clearest, fastest and most evidence-backed tool available to help the lowest-paid workers.
- For nearly two decades, workers and advocates have been pushing for a higher minimum wage.
Why this matters: political developments that affect policy direction and public trust.
Healthcare costs too much. Childcare costs too much. But for most workers, the most immediate problem is simpler: their paychecks are too low.
America s affordability crisis is fundamentally a wage crisis, and increasing the minimum wage is the clearest, fastest and most evidence-backed tool available to help the lowest-paid workers. Frozen at $7.25 since 2009, the federal minimum wage has lost 30 percent of its purchasing power, and the 17-year freeze is the longest stretch without an increase since the federal wage floor was established in 1938. The federal minimum wage is at its lowest real value in 77 years.
For nearly two decades, workers and advocates have been pushing for a higher minimum wage. These efforts have been successful across a range of states, especially where strong public support has been mobilized. But Congress has yet to take the necessary steps to raise the incomes of the lowest-paid workers.