Friday, May 25th, 2007...7:40 am
New Federal Minimum Wage
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Both the U. S. House and Senate have now passed the Fair Minimum Wage Act of 2007. Pres. Bush has promised to sign it. The Act will raise the federal minimum wage to $5.85, and then increase that to $6.55 one year later, and $7.25 the following year. Thus, by summer of 2009, the federal minimum wage would exceed the current Alaska minimum wage of $7.15, set in AS 23.10.065(a).
Until January 1, 2003, the Alaska minimum wage was keyed to the federal minimum wage, e.g. , $0.50 more than the federal rate. In 2003, it was changed to an absolute amount - $7.15.
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