Minimum wage increase in U.S. states adds pressure to federal push — and small businesses Aarthi Swaminathan January 6, 2021, 10:39 AM Minimum wage increases went into effect in 20 U.S. states on January 1, 2021, adding pressure to the debate over raising the $7.25 federal minimum wage. At the same time, businesses are dealing with the financial implications of the minimum wage hike while also struggling amid the ongoing coronavirus pandemic. “Everybody’s trying to paint this whole thing with one broad brush stroke,” John Horne, owner of the Anna Maria Oyster Bar in Bradenton, Fla., told Yahoo Finance. “$15 [minimum wage] is fine in Miami... but it’s not good in a small town, you know?”