Van Hollen Statement on Minimum Wage Increase

Statement

Van Hollen Statement on Minimum Wage Increase

Today, Congressman Chris Van Hollen, Assistant to the Speaker, issued the following statement on the increase in the national minimum wage from $6.55 to $7.25 per hour. This is the third and final increase to the minimum wage under the Fair Minimum Wage Act passed in 2007 by the Democratic Congress:

"The minimum wage helps protect our nation's working class, providing new economic opportunity and a step toward greater economic security. However, in recent decades the minimum wage has not kept pace with increases in the cost of living. That is why I joined my colleagues in fighting for, and finally passing in 2007, the Fair Minimum Wage Act.

"Today's increase to $7.25 per hour will directly impact almost 4.5 million Americans, including 74,000 minimum wage earners in my home state of Maryland. Additionally, millions more who earn just above that figure will see a boost in their earnings as a result. In the face of today's economic hardships, the minimum wage increase will boost consumer spending and combat the spiraling income inequality that has been a source of great economic instability. Furthermore, the increase will help protect millions of Americans who have been most directly affected by the economic crisis. This is an important day for all Americans, and I applaud this historic occasion."

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