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The Paramus Post - Greater Paramus News and Lifestyle Webzine
Tuesday, September 27 2016 @ 02:54 PM EDT

Over 600 Economists Sign Letter In Support of $10.10 Minimum Wage

Over PhD economists have signed an open letter—initiated by Economic Policy Institute President Lawrence Mishel and Harvard University professor Lawrence Katz—to the president and Congress in support of the Harkin-Miller Fair Minimum Wage Act of 2013. Signatories include 7 Nobel Prize winners and 8 former presidents of the American Economic Association.

The letter urges lawmakers to immediately enact a three-step raise of 95 cents a year for three years, which would mean a minimum wage of $10.10 by 2016, and then index it to protect against inflation. This increase would mean that minimum-wage workers who work full time, full year would see a raise from their current salary of roughly $15,000 to roughly $21,000. The proposals would also raise the tipped minimum wage to 70 percent of the regular minimum wage.
“The fact that so many economists support this legislation makes it a no-brainer for Congress,” said Mishel. “Raising the minimum wage to $10.10 would restore the value that it’s lost to inflation over the years, giving working families a raise while providing modest economic stimulus.”
President Obama has endorsed the Harkin-Miller bill and is expected to call for an increase to the minimum wage in his upcoming State of the Union address.


The Economic Policy Institute (EPI) is an independent, nonprofit think tank that researches the impact of economic trends and policies on working people in the United States.
Economic Policy Institute
1333 H Street, NW
Suite 300, East Tower
Washington, D.C. 20005

by Mel Fabrikant

Mel is a longtime Paramus resident and has belonged to many Paramus organizations. He is responsible for bringing the Scholarship Show to town and seeing to it that the initial presentation went over well. His five offspring were brought up through the Paramus school system. In addition, he is a longtime Paramus Rotary member.

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