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Florida Amendment 2: Raise minimum wage

Vote 2020
Vote 2020

Raises the state’s minimum wage to $10 per hour effective Sept. 30, 2021, and increase it each Sept. 30 thereafter by $1 until the minimum wage reaches $15 per hour on Sept. 30, 2026. From that point forward, future minimum wage increases shall revert to being adjusted annually for inflation.

State and local government costs will increase to comply with the new minimum wage levels, estimated to cost about $16 million in 2022, increasing to about $540 million in 2027 and thereafter.

Background and financial impact on Amendment 2

A YES vote would:| A NO vote would:
– Allow minimum wage workers in Florida to earn enough to afford basic household necessities including housing, food, transportation, child care and health care.
– Help to reduce race and gender income inequality
– Potentially increase economic activity by increasing household spending
– Require small and large business owners to budget for increased payroll expenses
– Potentially have little or no detrimental effect on job growth partly due to higher demand for goods and services generated by higher wage earners, and lower employer costs from less employee turnover, according to recent studies
– Allow businesses to keep labor costs at current levels
– Avoid potential labor cost impacts on the prices of consumer goods
– Maintain low-paying positions for teenagers and young adults joining the labor market

COVERAGE: Despite opposition, minimum wage amendment likely to pass | Minimum wage fight expected to be close