Obama Signs Order to Raise Minimum Wage for Federal Workers

- President Obama signs an executive order today to raise the minimum wage for federal contract workers.

Starting next yearm businesses with new or renewed federal contracts will have to pay minimum wage workers $10.10 an hour. It's currently at $7.25 an hour.

Obama's order will likely affect fewer than half a million workers. But the hope is it will spur Congress to approve the same increase for all workers.

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