Democrats prepare minimum wage hike bill

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Democrats in Congress are preparing a new proposal to hike the minimum wage to $10.10, with the increases to come in three steps ending in 2015.

Two phrases are likely to dominate the arguments on raising the minimum wage: Democrats will contend that “everybody deserves a living wage,” while Republicans will respond that the biggest losers will be young people who will be priced out of the market, especially teens looking for summer jobs.

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