Will the federal government increase the minimum wage? While efforts to do so have failed to gather steam, many states have taken action, to the point where more than half the nation’s population resides in a state where the minimum wage exceeds $7.25 per hour. Many of the states that have raised their minimum wages are those where the cost of living is relatively high.
April 2014, Volume 32, Issue 7
Many Minimum Wages
Old But Good News
The Census Bureau confirms what others have reported—state tax collections recorded strong growth in fiscal year (FY) 2013. That said, the details tell a more nuanced story, with voter-approved tax increases in California helping to boost the national average, and many states reporting more modest growth.
