MINIMUM WAGE: Minnesota lawmakers have a deal - New York News

MINIMUM WAGE: Minnesota lawmakers have a deal

Posted: Updated:
ST. PAUL, Minn. (KMSP) -

Minnesota lawmakers have reached a deal with House and Senate leaders approving a $9.50 minimum wage for large companies, indexed to inflation.

The bill passed out of the Senate Finance Committee on Monday afternoon on a 12-8 vote.

NEXT STEPS

Lawmakers outlined terms on Monday, and legislation could move through both chambers this week and a full Senate vote scheduled for Wednesday and a House vote by Thursday. Gov. Mark Dayton said he would sign the bill.

WHAT YOU NEED TO KNOW

The House and Senate agreed to phase in the hike by 2016, which means most large businesses would have to pay employees $9.50 an hour at that time.

Lawmakers agreed to index the minimum wage for inflation starting in 2018 with an annual cap of 2.5 percent, so in the first year of inflation, a worker could make $9.74 an hour at the most.

Minnesota's lower minimum wage would stay intact for small companies with annual gross sales below $500,000. For those companies, minimum wage would top out at $7.75 in 2016.

"I congratulate the House and Senate leaders for reaching agreement on Minimum Wage legislation. I am very pleased that it will raise Minnesota's minimum wage to $9.50 per hour, and index it to inflation. I look forward to signing this legislation into law," Gov. Mark Dayton said in a news release.

At the last conference committee session, the House offered an inflator mechanism that measures inflation based upon growth in gross domestic product (GDP) instead of the consumer price index (CPI). Senate negotiators still rejected it.

EXPLAINER: Minnesota minimum wage negotiations

FACT SHEET: 8 facts about minimum wage in Minnesota

  • Most Popular StoriesMost Popular StoriesMore>>

  • 35 breathtaking views of Supercell clouds in Minnesota, Wisconsin

    35 breathtaking views of Supercell clouds in Minnesota, Wisconsin

    Sunday, July 27 2014 1:26 PM EDT2014-07-27 17:26:52 GMT
    Saturday night, North of the metro, a "Trail of Hail" made its way from Minnesota to Wisconsin. Large hail, some the size of tennis balls were reported in parts ofPolk County, WI. There were only a few storms but those storms were
    Saturday night, North of the metro, a "Trail of Hail" made its way from Minnesota to Wisconsin. Large hail, some the size of tennis balls were reported in parts of Polk County, WI. There were only a few storms but those storms were
  • Husband runs over wife in Minnetonka Beach, Minn.

    Husband runs over wife in Minnetonka Beach, Minn.

    Sunday, July 27 2014 11:19 PM EDT2014-07-28 03:19:10 GMT
    Police say it probably was an accident, but a Minnesota man is in jail and may be charged with criminal vehicular homicide after he ran over his wife in the lakefront community of Minnetonka Beach.
    Police say it probably was an accident, but a Minnesota man is in jail and may be charged with criminal vehicular homicide after he ran over his wife in the lakefront community of Minnetonka Beach.
  • Newborn dead, 14-year-old girl hospitalized in southern Minnesota

    Newborn dead, 14-year-old girl hospitalized in southern Minnesota

    Sunday, July 27 2014 5:15 PM EDT2014-07-27 21:15:10 GMT
    Police in southern Minnesota are investigating the death of a newborn baby and the hospitalization of a teenage girl in the small town of Butterfield, Minn. -- but they aren't releasing many details, and many rumors are swirling in place of answers.
    Police in southern Minnesota are investigating the death of a newborn baby and the hospitalization of a teenage girl in the small town of Butterfield, Minn. -- but they aren't releasing many details, and many rumors are swirling in place of answers.
Widgets Magazine
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices