Business: Easing a Sting

By changing inflationary laws

Because the public now recognizes that the Government is the inflater of first resort, President Carter is considering changes in two inflationary federal laws:

The minimum wage law. A bill passed last year lifts the minimum wage from $2.65 an hour to $2.90 on Jan. 1, to $3.10 in 1980 and to $3.35 in 1981. Some White House aides think if the 1980 and 1981 increases were eliminated for younger workers—most likely those 21 and younger—as many as 450,000 jobs might open up for them. Carter will get strong opposition from...

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