Will the Federal Minimum Wage be Increased Any Time Soon?

Uncertainty abounds amongst small businesses across the United States. Entrepreneurs in a wide array of industries, especially startups, find themselves challenged in making decisions for their short, intermediate and long-term futures because of uncertainty stemming from the economy. This includes concerns about everything from proposed tax increases and healthcare mandates to a hike in the minimum wage.

The President proposed an increase in the federal minimum wage to $9 an hour from the current $7.25 during his State of the Union address. On March 5 democrats responded by sponsoring legislation that would raise the minimum to $10.10 an hour. These proposals raised conflicting reaction in Congress. Ultimately this legislation was defeated for now, but still made many business owners concerned about the future plans for their companies.

Read the full article written by Ekaterina Mouratova, Esq. and published on Under 30 CEO.