Senate Passes Minimum Wage Increase
Today the Vermont Senate passed a bill to incrementally increase the minimum wage to $15 dollars an hour by 2024.
“Increasing the minimum wage is an essential step in building an economy that works for everyone. It will attract a stronger workforce and provide Vermonters with dignity and a path out of poverty,” said Lt. Governor Zuckerman. “This bill also moves toward pay equity for women, the majority of whom are in low paying jobs and who so often struggle to provide for their families. When enacted this increase will provide a ray of hope for thousands of Vermont families. As a society we must work toward an economic system that works for everyone and stop perpetuating a system that has failed thousands of Vermonters. I urge the House to pass this legislation and the Governor to make it law.”
It is estimated this raise in the minimum wage would increase the total income of affected Vermonters by more than $240 million by 2022 and will positively impact our local economy by providing higher tax revenues, and lower expenditures on state benefit and support programs.
“In my own business we struggle to pay what our workers deserve,” said Zuckerman. “As this money churns through the local economy it will help increase our ability to meet this change. We are creating a positive feedback loop.”
The bill now moves on to the Vermont House.