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Minimum Wage

Philosophy and Vision​

We believe that every worker deserves a living wage that allows them to meet their basic needs, support their families, and live with dignity. A fair minimum wage is a fundamental component of an equitable economy, reducing poverty, boosting consumer spending, and ensuring that work pays enough to escape hardship. Our vision is a minimum wage that is not only adequate today but remains so in the future, automatically adjusting to the cost of living.

Issues, Causes, and Solutions​

The current federal minimum wage has not kept pace with the rising cost of living, leading to increasing poverty and economic insecurity for low-wage workers. The value of the minimum wage has eroded over time, making it difficult for individuals and families to afford essentials like housing, food, healthcare, and transportation.

Solutions:

  • Raise the Federal Minimum Wage: Increase the federal minimum wage to a level that reflects a living wage in the current economy, aiming for approximately $20 per hour, while considering regional cost of living differences.
  • Peg the Minimum Wage to the Cost of Living: Implement a mechanism to automatically adjust the minimum wage annually based on a specific basket of essential goods and services (e.g., housing, food, healthcare, transportation) to ensure it keeps pace with inflation and the true cost of living.
  • Eliminate the Tipped Minimum Wage: Ensure that tipped workers receive the full standard minimum wage before tips, providing greater income stability and reducing reliance on tips.
  • Strengthen Enforcement: Increase funding and resources for labor agencies to effectively enforce minimum wage laws and protect workers from wage theft.
  • Support Small Businesses: Explore targeted tax credits or other support mechanisms for small businesses to help them transition to a higher minimum wage, ensuring they can continue to thrive.

Outcome​

Raising and pegging the minimum wage to the cost of living will significantly reduce poverty and income inequality, providing millions of workers with the financial stability needed to support themselves and their families. This will lead to increased consumer spending, stimulating economic growth. It will also help to reduce reliance on public assistance programs and ensure that all workers share in the nation's prosperity.