Congress Quote by Jon Corzine
“It has now been over 7 years since Congress last raised the minimum wage to its current level of $5.15 per hour. Since that last increase, Congress's failure to adjust the wage for inflation has reduced the purchasing power of the minimum wage to record low levels.”
About This Quote
Source Speech: Congressional Testimony on Minimum Wage, 2020
The minimum wage has not risen in over seven years, eroding its purchasing power due to inflation.
In simple terms: Minimum wage stagnant, losing value.
Key Takeaway
Advocate for wage adjustment.
Themes
economics
inflation
labor
Mood
concerned
urgent
Type
political
economic
When to use this quote
- policy debates
- union negotiations
- budget planning
Key Concepts
wage policy
cost of living
income inequality
Questions to Reflect On
- What impact does stagnant wages have on workers?
- How can policy address inflation?
A Different Perspective
Political opposition may block changes.
![“[A] family with two kids that earns the minimum wage still lives below the poverty line. That's wrong. That's why, since the last time this Congress raised the minimum wage, 19 states have chosen to bump theirs even higher. Tonight, let's declare that in the wealthiest nation on Earth, no one who…” quote by Barack Obama](https://sms4smile.com/quotes/img-quotes/002/barack-obama-17_bumps_a-family-with-two-kids-that-earns-the-mi_2983577.jpg)
![“I can't imagine that I would be asked that by the president-elect [Donald Trump], or then-president [Barack Obama]. But it's - I'm very clear. I voted for the change that put the Army Field Manual in place as a member of Congress. I understand that law very, very quickly and am also deeply aware…” quote by James Mattis](https://sms4smile.com/quotes/img-quotes/761/james-mattis-9515_army_i-can-t-imagine-that-i-would-be-asked-th_3990.jpg)
![“As the longest serving Independent in the history of the United States Congress, as somebody who came into office by defeating an incumbent Democratic mayor in Burlington, Vermont, I know something about third party politics. And I respect Jill [Stein].” quote by Bernie Sanders](https://sms4smile.com/quotes/img-quotes/94c/bernie-sanders-233_congress_as-the-longest-serving-independent-in-th_10777.jpg)
