Labour says the most recent increase of 30 cent to the minimum wage in January was inadequate.
The Dáil today debated a plan that would increase the minimum wage by around 25% by 2025.
It's currently €10.50 per hour - compared to the 'living wage' of €12.90.
Under Labour's bill, the minimum wage would match the living wage within three years.
Labour Leader Ivana Bacik addressed the Dáil on Wednesday: "The key difference between the current minimum wage of €10.50 per hour and what we are proposing is that a living wage is a mechanism to take into account the cost of living.
"It is a better way to ensure that people's incomes are sustained and supported through periods of rising inflation and rising prices.
"When the minimum wage was first introduced over 20 years ago it was set at two-thirds of median average income.
"Had it been maintained at that rate, it would now be approximately €12.90 per hour or equivalent to the 2021 living wage rate," she added.
However, many TDs expressed concern that an increase in wages would put extra pressure on small businesses.
Limerick Independent TD Richard O'Donoghue says this would be a blow that many companies wouldn't survive.
Paying tribute to the work of @irishcongress @ivanabacik outlines the other measures Labour believes the govt should introduce alongside our #LivingWage Bill
— The Labour Party Ireland (@labour) May 11, 2022
👩🍼Public Childcare
🚊Free public transport
🏥Free GP services for under 18's
🏡3year rent freeze #IrelandNeedsAPayRise pic.twitter.com/VTL67FSvXl

Sharp Rise In M9 Collisions With Garda Call-Outs Up Year-On-Year
Councillor Seeks Clarity On How Often Nightclubs and Late Bars In Naas Are Inspected For Fire Risks
New Figures From CSO Reveal How Much International Protection Applicants Earn Compared To Average Worker In Ireland
Unpaid Eight-Month Work And Training Placement For Adults With Disabilities Branded "Extremely Unfair"
Department Of Education Defends Kildare SNA Cuts Amid Claims Of Reduced Need At Some Schools
Naas Nurses Threaten Escalation As Staffing Row Deepens
Driving Tests Face Disruption As RSA Testers To Strike Next Week
Jury Delivers Not Guilty By Reason Of Insanity Verdict In Ballyfin Demesne Strangling Case