In his State of the Union address Tuesday night, President Barack Obama urged Congress to raise the minimum wage from $7.25 to $9, saying the move would reduce poverty and stimulate the economy.

"Tonight, let's declare that in the wealthiest nation on Earth, no one who works full-time should have to live in poverty, and raise the federal minimum wage to $9 an hour," President Obama said. "This single step would raise the incomes of millions of working families. It could mean the difference between groceries or the food bank, rent or eviction, scraping by or finally getting ahead.

"For businesses across the country, it would mean customers with more money in their pockets. And a whole lot of folks out there would probably need less help from government."

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