At $15 in 2024, the federal minimum wage would no longer be a poverty wage: Annual wage income (2018$) for a full-time, full-year minimum wage worker, compared with various poverty thresholds, 1964–2018 (actual) and 2019–2024 (projected under the Raise the Wage Act of 2019)

Annual full-time minimum wage income Projected Two-person family Three-person family  Four-person family 
1964 $18,454 $16,460 $20,780 $25,100
1965 $18,161 $16,460 $20,780 $25,100
1966 $17,656 $16,460 $20,780 $25,100
1967 $19,183 $16,460 $20,780 $25,100
1968 $21,109 $16,460 $20,780 $25,100
1969 $20,198 $16,460 $20,780 $25,100
1970 $19,269 $16,460 $20,780 $25,100
1971 $18,464 $16,460 $20,780 $25,100
1972 $17,924 $16,460 $20,780 $25,100
1973 $16,860 $16,460 $20,780 $25,100
1974 $19,167 $16,460 $20,780 $25,100
1975 $18,586 $16,460 $20,780 $25,100
1976 $19,259 $16,460 $20,780 $25,100
1977 $18,101 $16,460 $20,780 $25,100
1978 $19,527 $16,460 $20,780 $25,100
1979 $19,518 $16,460 $20,780 $25,100
1980 $18,763 $16,460 $20,780 $25,100
1981 $18,527 $16,460 $20,780 $25,100
1982 $17,472 $16,460 $20,780 $25,100
1983 $16,756 $16,460 $20,780 $25,100
1984 $16,087 $16,460 $20,780 $25,100
1985 $15,553 $16,460 $20,780 $25,100
1986 $15,285 $16,460 $20,780 $25,100
1987 $14,777 $16,460 $20,780 $25,100
1988 $14,262 $16,460 $20,780 $25,100
1989 $13,664 $16,460 $20,780 $25,100
1990 $14,772 $16,460 $20,780 $25,100
1991 $15,941 $16,460 $20,780 $25,100
1992 $15,554 $16,460 $20,780 $25,100
1993 $15,172 $16,460 $20,780 $25,100
1994 $14,861 $16,460 $20,780 $25,100
1995 $14,512 $16,460 $20,780 $25,100
1996 $15,798 $16,460 $20,780 $25,100
1997 $16,766 $16,460 $20,780 $25,100
1998 $16,542 $16,460 $20,780 $25,100
1999 $16,197 $16,460 $20,780 $25,100
2000 $15,666 $16,460 $20,780 $25,100
2001 $15,232 $16,460 $20,780 $25,100
2002 $14,996 $16,460 $20,780 $25,100
2003 $14,663 $16,460 $20,780 $25,100
2004 $14,277 $16,460 $20,780 $25,100
2005 $13,809 $16,460 $20,780 $25,100
2006 $ 13,376 $16,460 $20,780 $25,100
2007 $14,775 $16,460 $20,780 $25,100
2008 $15,931 $16,460 $20,780 $25,100
2009 $17,695 $16,460 $20,780 $25,100
2010 $17,407 $16,460 $20,780 $25,100
2011 $16,875 $16,460 $20,780 $25,100
2012 $16,525 $16,460 $20,780 $25,100
2013 $16,284 $16,460 $20,780 $25,100
2014 $16,013 $16,460 $20,780 $25,100
2015 $15,985 $16,460 $20,780 $25,100
2016 $15,782 $16,460 $20,780 $25,100
2017 $15,450 $16,460 $20,780 $25,100
2018 $15,080  $15,080  $16,460 $20,780 $25,100
2019 $17,377 $16,460 $20,780 $25,100
2020 $19,531 $16,460 $20,780 $25,100
2021 $21,566 $16,460 $20,780 $25,100
2022 $23,498 $16,460 $20,780 $25,100
2023 $25,335 $16,460 $20,780 $25,100
2024 $26,992 $16,460 $20,780 $25,100

* Annual income of $26,992 is based on an hourly wage of $12.98, which is the 2018$ equivalent of $15 in 2024.

Notes: Inflation measured using the CPI-U-RS. Inflation projections calculated using CBO 2018.

Source: EPI analysis of the Fair Labor Standards Act and amendments, the Raise the Wage Act of 2019, and CBO 2018

View the underlying data on epi.org.