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Setting high standards for a federal minimum wage: Raising the wage to two-thirds of the national median wage would lift pay for nearly 40 million workers
Key takeaways: The federal minimum wage is at its lowest real value in 77 years. Frozen at $7.25 since 2009, the federal minimum wage has lost 30% of its purchasing power during this 17-year freeze. Setting the federal minimum wage at two-thirds of the national median wage would raise pay for 39.6 million workers in…