California governor Gavin Newsom announced that the state’s minimum wage will rise to $17.40 next year, a ay floor set to become the highest of any US state.
The pay bump will go into effect starting 1 January, Newsom announced on Friday. The state’s current minimum rate is $16.90. In a news release, Newsom touted the move as a salve for working families amid high living costs and took a jab at the Trump administration.
“For years, Donald Trump and Republicans have blocked efforts to raise the federal minimum wage while handing tax breaks to billionaires and big corporations,” Newsom said.
Still not enough.
If it were all at once the crying and resistance would be crazy. At least these small increases help with inflation
Price controls and regulation would help with inflation due to minimum wage increase too. There’s plenty of data showing prices do not appreciably rise with wages.
No price controls.
It would also make it more difficult to make multiple increments. The minimum wage can’t stay static so that would be pretty bad.