Vermont Raises Minimum Wage to $10.50
Posted on May 13, 2014
Vermont has raised the minimum wage to $10.50. It was previously $8.73. CNN/Money reports that the minimum wage in the state will be increased in phases through 2018.Vermont Governor Peter Shumlin has already indicated he will sign the bill. He said in a statement, "We're raising the minimum wage higher in each of the next four years, joining a growing number of states nationwide that are moving on their own in the face of congressional inaction." He also tweeted:
Think Progress reports that the $10.50 will make Vermont the highest minimum wage state in the country. This is the highest for a state, but some cities in other states, like Seattle, are going higher. Seattle will be raising its minimum wage to $15 an hour over a 3 to 5 year phase in plan that depends on company size. President Obama has been calling for a minimum wage increase to $10.10. Mitt Romney recently announced he supports the minimum wage hike, a move Senate Republicans did not like.