Washington—Senator Dianne Feinstein (D-Calif.) tonight released the following statement on President Obama’s 2014 State of the Union address:
“The president delivered a hopeful speech that should serve as a rallying cry for the American people and send a direct message to Congress: Stop the political posturing and come together to get this economy moving for all Americans.
“I was pleased the president devoted a significant portion of his address to income inequality, which is a growing problem that threatens to undermine the fundamental fairness and stability of this economy. Over the last 30 years, the income of the top 1 percent of earners increased three times faster than the remaining population. Since the recession, the top 1 percent of earners has reaped more than 95 percent of all economic gains—everyone else has fallen behind.
“To help reverse these inequities, we must first raise the minimum wage. The president took an important step by ordering an increase in the minimum wage to $10.10 an hour for new government contractors. But we shouldn’t stop there. Congress should follow California’s example and increase the minimum wage for all workers across the country.
“Working Americans are the backbone of the economy, but the economic pressures facing the middle class are holding back growth and limiting opportunities for future generations. Congress has an obligation to act in the face of these troubling but reversible facts, and I hope my colleagues rededicate themselves to building an economy that works for all Americans.”