codefund.com

Fair Minimum Wage Act of 2003

104 3

    Purpose

    • In 2003, the federal minimum wage was $5.15 per hour for most jobs. The Fair Minimum Wage Act of 2003 intended to increase this twice within two years of the act passing, resulting in a federal minimum wage of $6.65. The act modified the Fair Labor Standards Act of 1938, which is the law that created minimum wage.

    Planned Increases

    • The first of the two planned minimum wage increases included in the Fair Minimum Wage Act of 2003 was to increase the federal minimum wage from $5.15 an hour to $5.90 and would go into effect 60 days after the bill was enacted. A second increase one year later would raise the federal minimum wage from $5.90 an hour to $6.65.

    Failure to Pass

    • The Fair Minimum Wage Act of 2003 was referred to two committees, the House Education and the Workforce committee and its Subcommittee on Workforce Protections. Tied up in committee, the act never reached a vote on the floor of the house. The bill was still active on the books when the first session of the 108th Congress ended, at which time it was removed along with any other outstanding bills.

    Revival in 2007

    • The Fair Minimum Wage Act of 2007 introduced many of the same goals of the Fair Minimum Wage Act of 2003, adding a third planned increase in minimum wage which would bring the federal minimum wage to $7.25 an hour. This bill also did not pass in its initial form, though it was later attached to the U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act of 2007. When this act passed, the provisions of the Fair Minimum Wage Act that were attached passed as well.

Source...
Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time
You might also like on "Business & Finance"

Leave A Reply

Your email address will not be published.