The Illinois Senate agreed to a gradual hike in the minimum wage over the next six years; hourly wage having been stalled at $8.25 an hour since 2010. The phasing-in would increase hourly wage to $9.25 on 1/01/2020, to $10 on 7/01/2020, then increases $1 an hour each January thereafter until reaching $15 in 2025. Senate Majority Leader Kimberly Lightford introduced the bill and proposes a with-holding tax credit for employers with 50 or fewer employees to offset their costs; a 25 percent tax credit in 2020, then scaling back annually, phasing-out by 2026. The bill goes to the Illinois House which has a Democratic majority. Governor J.B. Pritzker has indicated that he would sign the bill, and stated he is “committed to enacting a balanced budget to ensure children, families, small businesses, public colleges and universities, and community-based organizations have the resources they need to give their workers a raise”. (A current National report reveals that 7 million-plus Americans are 90-days behind in car-loan payments and other bills, as inflation steadily climbs. We need fundamental change NOW — a huge tax cut for the poor and middle-class, not the billionaires! Experts say we are heading for another big economic crash!)
Trish Forsyth Voss
Feb 17 2019
Proposed bill passed the Illinois Senate that would raise minimum wage to $15 per hour by 2025.
The Illinois Senate agreed to a gradual hike in the minimum wage over the next six years; hourly wage having been stalled at $8.25 an hour since 2010. The phasing-in would increase hourly wage to $9.25 on 1/01/2020, to $10 on 7/01/2020, then increases $1 an hour each January thereafter until reaching $15 in 2025. Senate Majority Leader Kimberly Lightford introduced the bill and proposes a with-holding tax credit for employers with 50 or fewer employees to offset their costs; a 25 percent tax credit in 2020, then scaling back annually, phasing-out by 2026. The bill goes to the Illinois House which has a Democratic majority. Governor J.B. Pritzker has indicated that he would sign the bill, and stated he is “committed to enacting a balanced budget to ensure children, families, small businesses, public colleges and universities, and community-based organizations have the resources they need to give their workers a raise”. (A current National report reveals that 7 million-plus Americans are 90-days behind in car-loan payments and other bills, as inflation steadily climbs. We need fundamental change NOW — a huge tax cut for the poor and middle-class, not the billionaires! Experts say we are heading for another big economic crash!)
Trish Forsyth Voss
By spiritspeak • Community Roundtable 0