PROVIDENCE – The Ocean State’s lowest earners could be getting their first pay bump in five years, reported the Associated Press.
On Monday, the R.I. House of Representatives voted 60-to-8 to raise the state’s minimum wage from $7.40 an hour to $7.75 an hour.
Comparatively, the minimum hourly wage in Massachusetts and Connecticut is $8 and $8.25, respectively.
The state Senate approved the pay hike last week, and the measure is headed to Gov. Lincoln D. Chafee to approve.
According to the news source, some Republican lawmakers argue that the pay increase would prompt small businesses to delay new hire and food retailers have complained that higher wages will lead to an increase in food prices.
If approved by Chafee, who has made no comment on his support, the wage increase would go into effect in 2013.
Estate and Corporate Income Taxes are changing next year, and business owners and executives should know the details. The PBN Summit on November 6th will provide those details and more - including how much Obamacare's Employer Mandate could cost.
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