On February 11, 2014, President Barack Obama signed an executive order raising the minimum pay for workers employed by companies that have federal contracts. The pay per hour would be lifted from $7.25 to $10.10 and go into effect on January 1, 2015.
As might be expected, the move ignited a fire storm of dueling statistics and questionable conclusions from both sides of the political spectrum. Consequently, the average American is likely confused about who the order affects and its potential impact on the economy.
The Driver for Change: Income Inequality in America