New year, where’s the new money?

The Department of Labor reports that Indiana is one of twenty states that will not be increasing their minimum wage in the new year. Beginning Jan. 1, 2024, our neighbors to the east, west and north will all raise the required hourly pay rate for employees. Ohio’s minimum wage will jump to $10.45; Michigan’s will increase to $10.33; Illinois will raise its minimum wage to $14 hourly – all while Indiana holds steady at $7.25. The last increase for Indiana took place in 2009 when the hourly rate was raised just 70 cents per hour, up from $6.55.Back in 2009, The Black Eyed Peas, Lady Gaga and Flo Rida topped the music charts. The average cost of a gallon of gas was $2.62; now it is $3.50. “Transformers,” “Harry Potter,” “Twilight” and “Avatar” were some of the year’s biggest films. Barack Obama had just been inaugurated as president at the top of the year, and the average rent was around $800. The average rent in 2023 in Indiana is about $1,100 per month. Obviously, times—and costs – have changed.More than a decade later, states like Texas, Idaho and Kentucky are also holding steady at $7.25 while other states like Louisiana,...