March 5, 2013
Updated Mar 5, 2013 at 11:34 PM CDT
WASHINGTON, D.C. -- Three weeks after the President called for an increase to the federal minimum wage, a bill is introduced to do just that.
The Fair Minimum Wage Act of 2013 is sponsored by two Democrats.
The legislation would gradually raise the federal wage from $7.25 to $10.10.
Automatic annual adjustments would be based on the changes in cost of living.
If passed, the act would also gradually raise the minimum wage for tipped workers from $2.13 an hour to a guarantee of 70% of the non-tipped minimum wage.
The increases will begin immediately, raising the wage over $10 an hour by 2015.
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