2014 Federal Minimum Wage Current Events and State Minimum Wage Synopsis
With all of the national talk regarding raising the minimum wage, it is very important as an employer or employee to know what is likely to happen in the near future. Congress most recently has been looking at raising the minimum wage to $10.10 per hour, up from the current $7.25. On 4/30/2014, the bill failed in the Senate. The bill would have raised the federal minimum wage up to $10.10 over 30 months and then it would adjust automatically for inflation. There are also other proposals that are being discussed.
Already in February, using an executive order, the President raised the minimum wage for federal contractors to $10.10. Currently, thirty-four states have been considering raising their minimum wages for 2014. Twenty-one states already have minimum wages greater than the federal minimum wage.
The following are states that plan to raise their minimum wage:
| State | Planned Date | Details | Future |
| California | 7/1/2014 | Increase to $9.00 | $10.00 by 1/1/2016 |
| Connecticut | 1/1/2015 | Increase to $9.15 | $9.60 by 1/1/2016 |
| Delaware | 6/1/2014 | Increase to $7.75 | $8.25 by 7/1/2015 |
| D.C | 7/1/2014 | Increase to $9.50 | $10.50 by 7/1/2015 |
| Hawaii | By 2018 | Increase to $10.10 | $8.25 by 6/1/2015 |
| Maryland | 1/1/2015 | Increase to $8.00 | $10.50 by 7/1/2015 |
| Minnesota | 8/1/2014 | Increase to $8.00 | $8.25 by 7/1/2015 |
| West Virginia | 2016 | Increase to $8.00 | $8.75 by 1/1/2016 |
The following states minimum wages are adjusted according to certain factors on an annual basis:
| State | Current | Basis of Minimum Wage |
| Arizona | $7.90 | Adjusted annually based on cost of living |
| Colorado | $8.00 | Adjusted annually based on cost of living |
| Florida | $7.93 | Adjusted annually based on cost of living |
| Missouri | $7.50 | Adjusted annually based on cost of living |
| Montana | $7.90 | Adjusted using the cost of living and Consumer Price Index |
| Nevada | $8.25 | Adjusted using the federal wage and the Consumer Price Index |
| New Jersey | $8.25 | Adjusted in September based on Consumer Price Index |
| Ohio | $7.95 | Adjusted in September based on Consumer Price Index |
| Oregon | $9.10 | Adjusted annually based on Consumer Price Index |
| Vermont | $8.74 | Adjusted by 5% or the increase of the Consumer Price Index |
| Washington | $9.32 | Adjusted annually based on Consumer Price Index |
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