Last month, legislation was introduced in the U.S. House and Senate that, if passed, would increase the federal minimum wage by 85 cents each year, the Dayton Business Journal reports.  The increase would raise the current $7.25 hourly rate to $9.80 by the end of 2014.  Employees working for the current minimum wage rate earn approximately $15,000 per year.  If passed, the introduced bill would eventually raise the annual minimum wage to $20,000 per year.

The Fair Minimum Wage Act of 2012 was introduced in the House by U.S. Rep. George Miller (D-California) and in the Senate by Sen. Tom Harkin (D-Iowa), the article said. For more, read the full story.