DOLLARS AND SENSE

Obama to Raise Gov't Minimum Wage

In tonight’s State of the Union Address, President Obama will announce that he will use his executive powers to increase the minimum wage for workers on new government contracts. He will also call on Congress to pass legislation to raise the federal minimum wage from $7.25 to $10.10 an hour. “Hardworking Americans—including janitors and construction workers—working on new federal contracts will benefit from the Executive Order,” the White House said in a statement. Congress hasn’t increased the minimum wage in seven years.