New legislation may raise federal minimum wage If the latest bill introduced in Congress is any indication, soon the federal minimum wage could increase for the first time in almost a decade. The proposed bill would raise minimum wage to $15 per hour. Growing trend Under the Raise the Wage Act, the minimum wage would gradually increase until 2024. This bill would also phase out the tipped minimum wage, and the special lower wages paid to youth and disabled workers. While the effort to significantly raise the federal minimum wage isn’t new, it’s gaining steam. Several states have already passed legislation that’s quickly pushed up the rate. As of Jan. 1, 2019, Massachusetts raised its minimum wage to $12 per hour. California bumped up its rate to $12 an hour for employers with 26 or more employees and $11 an hour for smaller employers. In those states and in others, the minimum wage is slated to read $15 per hour. Recent development: New Jersey has passed legislation requiring $15 an hour there by 2024. More info: