The House has passed a bill that will gradually raise the minimum wage from $5.15 to $7.25 per hour over three years. The bill will now go to the Senate.

With more seniors and retirees staying in the work force, many taking part time jobs as supplemental income or as a way to get out into the community and keep active, the increase could affect millions of seniors who fill minimum wage positions. It will also positively affect all minimum wage workers in the lowest income brackets.

It doesn’t sound like something anyone would be opposed to, does it?

The fly in the ointment is that the bill pairs the increase in the minimum wage with estate tax exemptions. Democrats in the Senate are vowing to kill the bill, rather than allow what they consider a tax cut for the rich to go through. The bill contains exemptions on the estate tax of $5 million for individuals and $10 million for the estate of a couple. The current law provides for a 55% tax on estates worth more than $1 million starting in 2011.

Seniors who may be even now doing their estate planning will want to take note and research the bill and the effects it may have on the taxes their heirs will pay upon inheritance. As always, you should voice your opinion to your state representatives and senators.

You can find out who your state representatives and Senators are at this website. Email addresses are available for most of the members of Congress. Ground mail addresses and phone numbers are available for all members of Congress.