Minimum wage should have been indexed to inflation or CPI to begin with, so this is long overdue. If someone is working full time at minimum wage they should at least be able to support themselves. I think we need broader minimum wage reform as well including tiered wages for teenagers in certain roles (like Australia), training wages, and robust anti-discrimination and worker protections to go along with them. Even just this though will be a boon for the economy, injecting more money and inducing demand for goods and services. Good for capitalism, good for American freedom, good for everyone.