President Obama Raises Minimum Wage For Federal Contractors
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Barack Obama promoted minimum wage raises at Costco in January. (Creative Commons/Flickr user MDGovpics)
Beginning on January 1, 2015, the minimum wage will be $10.10 an hour and will only affect new contracts.
Obama announced his intention to raise federal contractor's minimum wage during his State of the Union address last month, citing economic growth.
"It's not going to depress the economy, it'll boost the economy," he said during the address.
Read more at Mother Jones.
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