Legislation that should raise the federal minimum wage to 7.25 minimum wage. However, this would happen over about 11 years, increasing the minimum wage by $0.75 a year until it reaches that amount. After it reaches that amount, the minimum wage should be tied to the inflation with the value of the US dollar, so if the value of the dollar decreases, the minimum wage should increase. This change would be applied at the end of each year, similar to France. The only exception would be if inflation reached over 5%, so it’d cap it there.
It should be noted that the Minimum Wage has the least impact on helping those in low income situations escape poverty and other policies should be looked into more.
Small Businesses
If new regulations pass granting increased wages and benefits to employees, small businesses with less than 50 employees within a 50 miles range should be given aid for a certain period of time to allow them to transition for safely to the new regulations, similar to PPP loans during COVID-19, but in smaller amounts over a longer period of time, such as 5-10 years.
Minimum Wage for Legal Dependents
The minimum wage or any wage for people who are dependent on a legal guardian and live with them can now be paid 1/2 of whatever the current minimum wage for the locality is. For instance, if the minimum wage is 11.75.
Tipped Wage
The tipped wage is now 3/4s to the minimum wage or any wage higher for the area the employment is being arranged in. For example, if the minimum wage for a given area is 13.50. Employers no longer have to make up any difference within the wage to the normal minimum wage.
This policy should only ever be implemented if the minimum wage is raised to at least $12 an hour. Otherwise, the tipped wage should be the same as the minimum wage.
Tips should be tax except.