Federal Minimum Wage
One of the biggest reasons the economy remains sluggish is that real wages have not increased although many businesses enjoy record profits. Productivity gains have been divorced from wages, harming businesses as well as American workers. Consumer spending is the engine that moves our economy and with little to no wage growth, demand remains anemic, overall economic growth suffers and the recovery stalls. The Raise the Wage Act, introduced earlier this year, addresses the largest problem business leaders see with today’s economy: weak demand.