Proposal raises Vermont’s minimum wage each year until it hits $15 in 2024.
Vermont’s minimum wage bill is on the way to the Vermont House for review after the Vermont Senate approved the legislation last week in a 20-10 vote.
S.40 aims to decrease income disparity and allow Vermonters to move out of poverty. Vermont’s current minimum wage of $10.50 per hour is well behind Vermont’s livable wage of $13.00 per hour. Under S.40, the hourly minimum wage will steadily increase over the next six years:
- $11.10 in 2019;
- $11.75 in 2020;
- $12.50 in 2021;
- $13.25 in 2022;
- $14.10 in 2023;
- $15.00 in 2024.
VBSR believes S.40 is a fair compromise that will get Vermont to a living wage faster than current law while also recognizing the significant contributions that businesses already make in terms of wages and benefits to employees. The bill is expected to be on the Senate floor this week after a brief review by the Senate Appropriations Committee.