On Thursday, the U.S. House of Representatives voted to pass legislation that would raise the federal minimum wage from $7.25 to $15 over the next six years. Yet the new standard has a long way to go before it could affect your wallet. The Raise the Wage Act, introduced Rep. Bobby Scott (D-Va.) in January, would effectively raise wages for 33 million workers, according to an analysis by the Economic Policy Institute. Nine in 10 of those workers potentially affected by the wage hike are over the age of 20 and 58% of them are women. A report from the Congressional Budget Office released last week predicted a slightly ... (full story)