Minimum Wage Hike

By a vote of 94-to-three, the Senate passed a bill today (Thursday) raising the minimum wage from five-dollars-and-15-cents an hour to seven-dollars-and-25-cents an hour.

The bill also contains tax breaks for small businesses which was not included in the House version.

A conference committee will settle the differences.

The minimum wage increase -- phased in over two years -- was one of the promises Democrats made during their successful campaign last year to win control of Congress.