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Home»Business»Finance
Finance

Why the Minimum Wage Hasn’t Been a Prominent Topic This Election Season

November 7, 2024No Comments2 Mins Read
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Former President Donald Trump has not publicly supported an increase in the federal minimum wage during this election cycle, even avoiding the question when asked about it during a visit to a McDonald’s. Vice President Kamala Harris, on the other hand, has supported raising the minimum wage, stating that she would support a minimum of at least $15 an hour. Experts believe that a federal minimum wage increase is far more likely to pass under a Harris administration.

The issue of increasing the federal minimum wage has not received much attention during this campaign season, despite being a significant concern for many Americans. Currently, only 1.1% of U.S. workers earn at or below the federal minimum wage, as many states have already taken steps to increase their minimum wages. Congress has not raised the federal minimum wage since 2009, and states have been filling the void with their own legislation.

On Tuesday, voters in three states will have measures on their ballots to increase the minimum wage in their states, while two other states will vote on questions regarding tipped wages. Whether Trump or Harris wins the election, Congress will need to approve a federal minimum wage increase before it can be enacted. Republicans have historically opposed federal minimum wage increases, preferring to leave the issue to the states and the free market.

Despite the challenges in passing federal minimum wage legislation, experts believe that it is a politically popular policy that could sway voters in key battleground states. In the absence of federal action, some corporations have taken it upon themselves to raise their minimum wages, with companies such as Bank of America, Costco, and Home Depot increasing their minimum wages to $15 or more. Each of these individual efforts is contributing to the push for higher wages across the country.

As the nation grapples with economic challenges stemming from the pandemic, the issue of the federal minimum wage remains a contentious topic in the political arena. While some progress has been made at the state level, the federal government has not taken decisive action to raise the minimum wage since 2009. Regardless of the outcome of the election, the debate over increasing the federal minimum wage is likely to continue as workers and businesses navigate a changing economic landscape.

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