$10.10: The (eventual) proposed US minimum wage, per legislation introduced by Senator Tom Harkin (D-IA) and Representative George Miller (D-CA). The Fair Minimum Wage Act of 2013 "would gradually raise the federal minimum wage to $10.10 an hour from its current $7.25, then provide for automatic annual increases linked to changes in the cost of living. Harkin and Miller's bill would also gradually raise the minimum wage for tipped workers—which currently stands at just $2.13 an hour—for the first time in more than 20 years, to 70 percent of the regular minimum wage."
Right now, someone working 40 hours a week at the minimum wage, without overtime or bonuses, makes $15,080 before taxes. At the maximum increase ($10.10), someone will make $21,008.
The current federal poverty level for a family of four is $23,550.
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