On Friday, May 25th, President Bush signed an emergency Iraq funding bill that was approved by both houses of Congress. The bill includes a three-level increase to the federal minimum wage to $7.25 over two years. The President's signing marks the first increase to the minimum wage in nearly 10 years (the last increase took effect in September 1997). The first step of the three level wage increase (to $5.85 per hour) will take effect 60 days from the date of his signature, or July 24th, 2007.

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