A new minimum wage bill was recently introduced to the Iowa Legislature, which aims to raise the state minimum wage to $8.75 an hour. 

According to the Des Moines Register, 29 states and the District of Columbia currently have a minimum wage that is higher than $7.25 an hour, the current federal minimum. Iowa, along with 13 other states, have a state minimum wage that is concurrent with the federal minimum wage. This leaves 7 states that either do not have a state minimum wage, or have a state minimum that is lower than the federal minimum. 

The push for a higher minimum wage comes from the decreasing punch of the dollar due to inflation. In 1968, the minimum wage was $1.60 per hour. When indexed for inflation, that $1.60 would now be $10.90 per hour. 

To see the breakdown of how inflation has affected the buying power of the federal minimum wage, click here.