The Department of Labor reports the minimum wage rose to $7.25 in 2009, after Congress passed an amendment in 2007 that steadily increased wages from $5.85.
since 2009 the minimum wage has lost 27% of its purchasing power due to cost of living increases. The Institute adds, 23 states and Washington D.C. raised state minimum wage in 2023, including Sanders’ own Vermont. Starting January 1, 2023, Vermont raised its state minimum wage to $13.18 per hour. That is an increase of $0.63 from the previous minimum wage of $12.55.
Washington News Bureau Reporter Jamie Bittner asked Sen. Sanders how he believed the $17 per hour minimum wage he is advocating for would impact small businesses. “This is over a 5-year period. I don’t think it will be much of an impact. The minimum wage is going up in Vermont. It’s close to $15 a hour now. So I don’t think it would be very impactful,” he said, adding, “bottom line is also that when you raise wages in Vermont, in Burlington for example, the cost of housing is outrageously high. People can’t afford it. So when you raise the minimum wage, you put more money into people’s pockets.
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