OPINION: It’s time for Congress to raise the minimum wage
It’s been more than four years since Congress last raised the federal minimum wage. Hard-working families are doing all they can to make ends meet during the worst economy of our lifetime – but through no fault of their own – feel like they are just slipping further behind.
When adjusted for inflation – the federal minimum wage of $7.25 today is much lower than its peak in 1968. Too many working poor families are below the poverty line, which not only holds these families back, but also holds back our local economy from its full potential growth.
New York City is home to three of the nation’s top 10 areas with the highest cost of living, according to the Council for Community and Economic Research. Brooklyn is ranked second in the country. For Brooklynites, it’s getting harder and harder to make ends meet with the rising cost of groceries, rent, transportation and basic necessities.