California is just a step away in history to creating a better economic environment for its businesses.
The State of California will make history if a statewide $15 minimum wage is passed with.
Sources closely following negotiations made it known that the deal under negotiations will see the current $10 per hour minimum wage raised to a 50 cent plus in 2017 and a repeated 50 cent rise in 2018. As part of the deal, the minimum wage will rise by $1.00 dollar each year until 2022. However, a $15 hourly minimum wage will be paid by businesses with less than 25 employees.
The deal, which was made last Saturday afternoon, will still need to be confirmed by a state legislature and a possible voting on the issue in the coming weeks. However, in a speech addressing the Associated Press on Saturday, Sen. Mark Leno said: “This is not a done deal. Everyone’s been operating in good faith and we hope to get it through the Legislature.”
In case state legislature fails to pass the deal, there will still be a possibility to increase the state’s minimum wage by voters come November 8 as a union proposal to increase the hourly minimum wage to $15 by 2021 is already in the ballot.
Studies have explained that in a big state like California even a minimum wage of $15 isn’t enough and far below the cost of living, notwithstanding the current $10 minimum wage is high as considered in some states.
A higher minimum wage could boom up businesses and bring about higher work efficiency in business and the whole economy of California.