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Study: Fair Minimum Wage Double Obama-Backed $10.10

HeadlineJan 30, 2014

President Obama hit the road Wednesday one day after his State of the Union vow to take executive action should Republicans thwart his efforts on economic progress. Speaking at a Costco store in Maryland, Obama touted his plan to boost the minimum wage of federal contractors to $10.10 an hour.

President Obama: “Now, some of my ideas, I’ll need Congress, but America can’t just stand still if Congress isn’t doing anything. I’m not going to stand still either. Wherever I can take steps to expand opportunity for more families, I’m going to do it, with or without Congress. Nobody who works full-time should ever have to raise a family in poverty. And that is why I firmly believe it’s time to give America a raise.”

Obama is also backing a congressional bill that would raise the minimum wage for all Americans to $10.10. But a new analysis from the Center for Economic and Policy Research says that if the minimum wage were kept in line with productivity gains since 1968, it would now be more than double that amount, at $21.72.

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