Minimum wage legislation stalls in the Senate

|By:, SA News Editor

Republicans in the Senate have blocked a bill that would increase the federal minimum wage to $10.10 per hour incrementally over 30 months.

The development sets up minimum wage reform as a major topic during November elections.

Consumer companies have mixed opinions on the topic. Though some larger employers could feel a pinch from a higher level of minimum wages (MCD, SWY, KR, WEN) - some analysts think retailers (WMT, DG, FDO, DLTR, TGT) selling to lower income brackets could get a boost. There's also some speculation that more mom-and-pop shops will be forced out of business if the minimum wage goes to over $10 per hour.