Businesses would have to pass on the higher cost of labor to their customers in the form of higher prices for goods and services. Senior citizens living on fixed incomes would, therefore, have to pay more for things like food, nursing care, household help, and so on, with no boost in income.
Minimum wage laws in a dozen states will cost the U.S. roughly 261,000 new jobs in 2018. New York will be hit the hardest where various state and municipal minimum wage hikes will suppress job growth by nearly 100,000.
Currently, the minimum wage for workers who also receive tips is $3.33 an hour in the district. Initiative 77, which passed with 55 percent approval on Tuesday, will raise that to the same rate as the district’s standard minimum wage of $12.50, and it will rise further to $15 by 2020.
Vermont Sen. Bernie Sanders said that the majority of Americans support a $15 minimum wage, but an April poll by CreditLoan says otherwise.
Governor Scott was absolutely right to veto the $15 minimum wage bill. Let’s hope he doesn’t have to do so again a year from now, and, if he does, he has the votes to sustain that veto.
Gov. Phil Scott on Tuesday vetoed bills for a $15 minimum wage and mandatory paid family leave, citing campaign promises not to raise costs on residents and businesses.
If our legislators want to pass a policy like the $15 minimum wage, they ought to be aware of how this policy would hit the poorest rural areas of Vermont, so that they don’t mistake minimal “average” impact for major impact on the areas of Vermont that can least afford to raise wages.
Vermont is one step closer to a $15 minimum wage following a narrow yes vote in the House on Tuesday, and business owners say the development has them worried, despite the likelihood of a veto by the governor.
Last week, the House Committee on General, Housing and Military Affairs took testimony on S.40, a bill that would give Vermont a $15 minimum wage by 2024. Watch video of the committee hearings held at the Vermont Statehouse.
We are concerned about six weeks of paid family leave, we continue to oppose increasing the minimum wage, and we’re against transferring partial funding of education to a new income tax surcharge. We also oppose broad liability for toxic substances.
A single parent earning minimum wage has access to resources of roughly $45,000 a year, including benefits such as state and federal earned income tax credits, food stamps, and childcare subsidies. This is an amount roughly equivalent to the after-tax resources of someone who earns a salary of $52,000.