By BARRY MASSEYSANTA FE, N.M. (AP) â¿¿ Democratic lawmakers are pushing to increase New Mexico's minimum wage to $8.50 an hour, one of the highest rates in the country, and allow voters to decide whether the rate should be adjusted annually for inflation. The proposals are part of the Democratic agenda for the 60-day legislative session, but the measures face strong opposition from business groups. "For too long the debate seems to have been we either have social justice or you have economic development," said Rep. Brian Egolf, D-Santa Fe. "You can have both. You can have social justice and a strong economy." The state's minimum wage went to $7.50 an hour in 2009. The federal minimum wage is $7.25 an hour. Employers must pay the higher rate when there is a difference between the federal rate and requirements imposed by a state or local government, according to the state Department of Workforce Solutions. A proposal by Sens. Richard Martinez, of Espanola, and William Soules, of Las Cruces, would increase the minimum wage to $8.50 an hour, which would provide an annual salary of $17,680 for a full-time job. Only three states â¿¿ Washington, Oregon and Vermont â¿¿ have higher minimum wages. Washington tops the nation at $9.19 an hour, according to the U.S. Department of Labor. "This would increase the amount of money in a family budget by about $40 a week to buy groceries," Soules said of his proposal. "''This is a bill that supports families. It helps raise people up out of poverty, which we know is a major contributor to poor education outcomes." A separate proposal by Rep. Miguel Garcia, D-Albuquerque, would provide automatic cost-of-living increases in the state's minimum wage based on the consumer price index published by the Labor Department. The rate could increase but not decrease because of the annual adjustments.