Sen. Reed bill will Hike Minimum Wage

Rhode Island Senator Jack Reed is supporting a bill that would increase the federal minimum wage over the next three years.

The federal minimum wage is currently $7.25.  The so-called “Federal Wage Act” would increase that wage by 95 cents annually until it reaches $10.10 by 2015.

However the buying power of minimum wage has decreased significantly, and the new boost may not be enough in Rhode Island, says Kate Brewster, the executive director of The Economic Progress Institute.

“We published a study that shows what it costs to live in RI, and we found that an individual needs close to twelve dollars an hour to actually meet their most basic needs here in the Ocean State, and it’s much more if you have a family.”

The bill would also increase the wage for tipped workers.

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