NEW YORK (CNNMoney)
After promising five years ago to raise the federal minimum wage, President Obama finally unveiled a plan to do so on Tuesday.
In his State of the Union address, Obama pressed to raise the hourly rate in stages to $9 an hour in 2015, up from the current $7.25, and index it to inflation. The change, should it become law, would boost the wages of 15 million Americans, according to the White House.
This morning on "Early Start," Christine Romans looks at President Obama's State of the Union proposal to raise the federal minimum wage and how it could affect the economy.
READ MORE: The impact of a $9 minimum wage