LOS ANGELES (CBSLA.com) — Lawmakers are saying that a deal to raise California’s minimum wage is almost done.

Just Saturday night, State Lawmakers have confirmed they have reached a deal with labor unions to boost the state’s minimum wage from $10 to $15 an hour.

The legislature would still need to vote on the deal, which we are told could happen as soon as next week.

Assuming it goes through, it would mean no costly political showdown come November, and no plan on the ballot for voters to approve.

At $10 an hour, California already has one of the highest minimum wages in the country… a hike to $15 an hour would make it the highest in the nation and would put the state at the forefront of whats been a burning national issue for some time.

The issue has prompted rallies here and across the country over the past year.

Last week, the first of two union-sponsored initiatives qualified for the November 8th ballot.

But, assuming this deal goes through, the initiative would be withdrawn.

According to the LA Times, here’s how the negotiated deal would work.

The minimum wage would go from $10 – $10.50 an hour next January.

It would then increase another 50 cents in 2018, and then one dollar increases from 2020-2022.

However, businesses with fewer than 25 employees would have an extra year to comply.

Governor Brown is expected to make a formal announcement regarding the deal as soon as Monday.

Again, the legislature could vote on the plan by the end of next week.

New York is also considering raising it’s minimum wage to $15 — and the New York Times says that announcement could also come in the next few days.

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