A new report by the Center for American Progress shows that raising the federal minimum wage from $7.25 to the proposed $10.10 per hour would reduce federal food stamp spending by $4.6 billion a year.
Although the retail sector is one of the fastest growing sectors in the country, many retail workers are struggling to survive in low-wage jobs with inconsistent hours and few benefits. And many of these workers are being forced to rely on taxpayer funded programs like food stamps just to make ends meet.
As corporate profits soar to astronomical rates, the real value of the current federal minimum wage is lower than it was in the 1960s. States from California to New Jersey have recently raised the minimum wage, but this problem calls for a federal solution. The Retail Justice Alliance supports H.R. 1010 which would raise the federal minimum wage to $10.10 an hour and tie it to inflation. Raising the minimum wage would not only help workers provide for their families, but also boost our economy by giving them more purchasing power. Congress should pass this bill immediately.