President Obama, the official continued, supports the Harkin-Miller bill, also known as the Fair Minimum Wage Act, which would raise the federal minimum wage to $10.10 an hour, from its current $7.25.
The legislation is sponsored in the Senate by Tom Harkin of Iowa and in the House by George Miller of California, both Democrats. It would raise the minimum wage in three steps of 95 cents each, taking place over two years to $10.10, and then index it to inflation. The legislation will probably be coupled with some tax sweeteners for small businesses, traditionally the loudest opponents of increases to the minimum wage.
The combination of an increase to $10.10 and some breaks for small business on expensing unite virtually the whole Democratic caucus, and we are prepared to move forward shortly, said Senator Charles E. Schumer of New York, the Senates third-ranking Democrat.