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Rep. Melancon Salutes Minimum Wage Increase To $6.55 An Hour |
Increase Marks Second Hike in Three-Step Minimum Wage Increase Enacted by Congress In 2007
July 24, 2008
WASHINGTON, D.C. – Today, the federal minimum wage increased from $5.85 to $6.55 an hour, as the result of legislation supported by Rep. Melancon last year. In May 2007, Congress enacted the first minimum wage increase in a decade, raising the minimum wage from $5.15 to $7.25 an hour in three steps over a two-year period. The final increase – from $6.55 to $7.25 – will go into effect next July 24, 2009.
“Today, thousands of hardworking Louisianians will get a much-deserved pay raise,” said Rep. Melancon. "America offers enormous opportunity for those who work hard and obey the law, but millions of citizens who put in a hard day's work are still living in poverty. In the richest nation in the world this should not be the case.”
12.4 million workers in the United States will benefit from the increase to $7.25 – 5.3 million directly and 7.1 million indirectly as a result of a new wage floor. In Louisiana, 274,000 workers will benefit directly from the increase to $7.25 an hour, according to the Economic Policy Institute. This increase will mean an additional $4,400 per year for a minimum wage worker’s family, helping them to try to keep up with rising costs.
Rep. Melancon added, “Consumer costs – from gas prices to food to health care costs – have skyrocketed at the same time that American families have seen their real income drop by almost $1,000 since 2001. I have consistently supported raising the minimum wage as a concrete step to help Louisiana families make ends meet and grow our economy over the long-term.”
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