Congress Advances Legislation to Increase Federal Minimum Wage to $20 by 2029

The federal minimum wage has been $7.25 since July 2009 — 16 years, the longest stretch without an increase since the minimum wage was created in 1938

842,000 workers earned $7.25 or less per hour in 2024 — 1.0% of all hourly paid workers, down from 13.4% in 1979

CBO estimated a $15 minimum wage would raise pay for 17 million workers and cut poverty by 900,000 people, with a median projection of 1.4 million fewer jobs

The federal tipped minimum wage has been $2.13 per hour since 1991 — unchanged for 34 years

30 states and D.C. already have minimum wages above $7.25, with D.C. highest at $17.50 — but no state's general minimum has reached $20