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UPDATE: The Senate may vote on this issue within the next 24 hours. Please call your Senators and let them know what you think about linking a hike in the minimum wage to a cut in the estate tax.
BACKGROUND: Just before leaving for their summer recess, the House passed a bill that would raise the federal hourly minimum wage from $5.25 to $7.25 over three years - but the other provisions in the bill make it very unlikely that it will pass the Senate.

House Republicans were leery that Democrats would make the languishing minimum wage (untouched since 1997) a campaign issue this fall; they scrambled and passed the bill after 1AM Saturday morning. The bill couples the minimum wage increase with a cut in the estate tax, a tactic that might doom the bill in the Senate - it's estimated that the estate tax cut would leave a $258 billion hole in the federal budget, with wealthy families keeping most of that money. 34 Democrats joined the Republican House majority to pass the bill.
Los Angeles times article on the bill here.

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