Who Really Benefits From A Minimum Wage Hike?
Publication Date: September 2003
Topics: Minimum Wage
Washington – Upon returning to session, Congress will be facing a proposed increase in the federal minimum wage to $6.65 an hour. According to the latest figures from the U.S. Census Bureau, those who would most benefit from the $1.50 increase are not from poor families.
The average family income of employees who would benefit from the proposed minimum wage hike is $43,795.
Fully 85% of employees whose wages would be increased either live with working parents or another relative, live alone, or have a working spouse. Just 15% are sole earners in families with children, and each of these sole earners has access to supplemental income through the Earned Income Tax Credit.