We’ve tried staying away from this subject because it seems so political. The Democrats are shreiking that the Republicans are about to “gut” Social Security and Medicare. The Republicans flatly deny that. Meanwhile both parties joined to pass a Social Security Fairness Act that increased benefits for some federal workers. The effect, according to the Congressional Budget Office (CBO) was to advance the time bomb of social security insolvency. Letter to the Honorable Chuck Grassley about the long-term effects of … Read the rest
It’s the end of the year.
Which means, for the foreseeable future, employers need to be mindful of the automatic increase to the state’s minimum wage which goes into effect on January 1, 2025.
Currently, the rate is $ 15.69. However, it goes up to $ 16.35 on Wednesday.
Why?
Connecticut’s minimum wage law, which connects the state minimum wage to changes in the federal employment cost index (ECI), was originally passed in 2019 when inflation wasn’t of major concern.… Read the rest