For the supporters of a minimum wage, 2013 was a good year. New Jersey, New York and California were few of the states which passes the hikes in the minimum wage. The minimum wage was increased to $15 in the states of Washington and Sea Tac as a living economic experiment. As one of the policy reforms, President Obama is likely to raise the minimum wage as per federal standards to $10.10 per hour which would increase with the cost of living. Currently the minimum wage as per federal standards is $7.25 per hour, which as per the historical standards is very low. This is very low when one looks at the rate of inflation and luckily the inflation rate is not that high as compared to the one in the year 1968. Currently, District of Columbia together with 19 states has a higher wage floor and at the same time New Jersey by indexing its cost of living became the 11th state.