Florida voters approve $15 minimum wage hike
The current minimum wage in Florida is $8.56
Voters in Florida approved a graduated minimum wage hike that would raise the starting rate for workers in the Sunshine State to $15 per hour by 2026.
The measure, known as Amendment 2, will raise the minimum rate to $10 per hour on Sept. 30, 2021. In the years that follow, there will be annual $1 increases until $15 per hour is reached.
Afterward, the minimum wage pay rate will be tied to inflation.
The current minimum wage in Florida is $8.56, while the federal base pay rate is $7.25.
FLORIDA'S SMALL BUSINESSES CANNOT SURVIVE A $15 MINIMUM WAGE MANDATE
It has been estimated that the measure will lift pay for about 2.5 million workers in the state.
Florida is the eighth state to commit to raising wages to $15 per hour, as reported by The Wall Street Journal.
While proponents believe higher wages will help families by paying workers a livable wage, critics claim that business owners may not be able to afford increased payroll costs.