It's Tuesday, July 9th. I'm David Brancaccio, and here's some of what's happening in business and the world.
Hourly workers are closer to receiving an election year fillip in their paychecks.
The Senate today approved a 90 cent rise in the minimum wage. Democrats today defeated a Republican amendment that would have exempted small businesses from the increase. Republicans argued that smaller employers are least able to afford the wage hike and will be forced to lay off workers. Marketplace's John Dimsdale has more on one area of public policy where economists remain sharply divided. And there are reliable statistics showing that teenage employment drops following a minimum wage hike.