MINIMUM WAGE: Minnesota lawmakers have a deal

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>>

  • Biggest MNsure vendor withdraws from health care exchange

    Biggest MNsure vendor withdraws from health care exchange

    Tuesday, September 16 2014 8:36 PM EDT2014-09-17 00:36:54 GMT
    PreferredOne, the insurance company with the lowest rates and highest number of enrolled patients, is withdrawing from the MNsure health care exchange.
    PreferredOne, the insurance company with the lowest rates and highest number of enrolled patients, is withdrawing from the MNsure health care exchange.
  • VIDEO: Watch 150 MN National Guard troops reunite with families

    VIDEO: Watch 150 MN National Guard troops reunite with families

    Tuesday, September 16 2014 1:15 PM EDT2014-09-16 17:15:19 GMT
    Nearly 150 soldiers from the Minnesota National Guard were reunited with their families Tuesday morning in Inver Grove Heights. The soldiers are part of the 114th Transportation Company based out of Chisholm and have spent the last 9 months serving in Afghanistan.
    Nearly 150 soldiers from the Minnesota National Guard were reunited with their families Tuesday morning in Inver Grove Heights. The soldiers are part of the 114th Transportation Company based out of Chisholm and have spent the last 9 months serving in Afghanistan.
  • WANTED: Man robs woman, beats senior into coma days later

    WANTED: Man robs woman, beats senior into coma days later

    Monday, September 15 2014 11:49 PM EDT2014-09-16 03:49:51 GMT
    He's accused of robbing a Minneapolis woman and then beating and robbing a senior citizen just two days later, and now, Minneapolis police are asking the public to help them find Abdirizak Salad.
    He's accused of robbing a Minneapolis woman and then beating and robbing a senior citizen just two days later, and now, Minneapolis police are asking the public to help them find Abdirizak Salad.
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 | New Terms of Service What's new | Ad Choices