The Senate this week approved a bill in a 94-3 vote that would set the minimum wage bar higher by $2.10. This takes the minimum wage up to $7.25 an hour phased in over 2 years.
The bill also included an increase in taxes for executives that are earning more than $1 million per year and would give a tax break to small businesses.
Republicans had tried to put this bill through twice before with much bigger tax breaks for small businesses. The newly motivated Democratic Senate desperately needed to establish momentum and found a compromise that the Senate could live with and maybe the House too.
President Bush publicly asked the Congress to support the bill and pass it, indicating his own support for the bill.
Technorati tags: Minimum Wage, Increase Minimum Wage, Tax Increase for Rich, Tax Cuts for Small Business
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