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3 Things You Need to Know about Today’s Minimum Wage Vote

Here’s the first thing:
Today, the Senate did not vote on raising the minimum wage.  (If they had voted, the bill would almost certainly have passed.)
Rather: today’s vote was on whether to end a filibuster.  The filibuster is a parliamentary maneuver that allows a minority of Senators to prevent the full Senate from voting on a measure.  Since President Obama was elected, the GOP has used the filibuster to drive Congress into gridlock.  (Read more about the filibuster and Scott Brown here.)
The Senate can still vote again (and again) in the future on whether to end the filibuster.

Here’s the second thing:
The Federal Reserve Bank of St. Louis has been keeping track of corporate profits since 1947.  For the first 40 years after that, there was an almost perfect relationship between total corporate profits and the minimum wage: total corporate profits were almost exactly 55 billion times the minimum wage.  But once the 1986 corporate tax cut started impacting the economy, that changed. (It changed even more after the 2001 and 2003 Bush tax cuts.)

profits vs minimum wage


And here’s the third thing:

Today’s vote to end the filibuster failed by only six votes.  New Hampshire’s Sen. Kelly Ayotte was one of them.

4-30-14 Minimum Wage Filibuster Vote

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About Liz Iacobucci

Liz Iacobucci is the former Public Information Officer for the State Employees’ Association of New Hampshire, SEIU Local 1984. Over the past three decades, she has served in government at the federal, state and municipal levels; and she has worked for both Democratic and Republican politicians.
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One Response to 3 Things You Need to Know about Today’s Minimum Wage Vote

  1. Pingback: Granite staters ask Sen. Ayotte to take the minimum wage challenge - Manchester Ink LinkManchester Ink Link

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