Maryland raises minimum wage to $10.10

hennessy

hennessy

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Maryland raises minimum wage to $10.10
By Jennifer Liberto @CNNMoney April 7, 2014: 3:27 PM ET

Most minimum wage workers in Maryland will see their pay rise in January, 2015.

WASHINGTON (CNNMoney)

Maryland is the latest state to boost its minimum wage.

The state legislature on Monday approved a bill that raises the wage floor from $7.25 to $10.10 by 2018, and Gov. Martin O'Malley is expected to sign it into law.

The hike in hourly wages will be made gradually -- edging up to $8 an hour on Jan. 1, 2015 and $8.25 on July 1, 2015. After that, it goes up in 50 cent increments in 2016 and 2017, and hits $10.10 on July 1, 2018.

The move makes Maryland the second state in a month to match Congressional Democrats' proposal to raise the federal minimum wage to $10.10, which has become one of President Obama's latest battle cries.

The President has encouraged mayors, governors and state legislators not to wait for Congress to adopt the $10.10 rate.

"The Maryland Legislature did the right thing for its workers today," the President said in a statement after its passage. He added that Congress should "follow Maryland's lead" and "ensure that no American who works full time has to raise a family in poverty, and that every American who works hard has the opportunity to succeed."

The Maryland bill exempts restaurants making less than $400,000 annually from paying the new minimum wages.

It also exempts tipped restaurant workers, like waiters, from qualifying for the higher wages and freezes their minimum wages at $3.63 an hour — a move pushed for by the restaurant industry.

The industry's efforts aren't new. Several big restaurant companies -- including YUM! Brands, (YUM, Fortune 500) which owns Taco Bell, KFC, Pizza Hut; Darden Restaurants (DRI, Fortune 500), which owns Olive Garden and Red Lobster; and Cracker Barrel Old Country Store (CBRL) -- lobbied against last year's effort in Congress to raise the federal minimum wage, according to Senate lobbying reports.

Both Darden Restaurants and YUM! Brands have warned investors that an increased minimum wage would adversely affect profit margins, according to regulatory filings.

"Raising Maryland's minimum wage is a huge win for the hundreds of thousands of workers across the state who will get a raise, as well as the businesses and communities that will experience increased economic activity because of higher wages," said Ricarra Jones, chair of Raise Maryland, an advocacy network made up of unions and civil rights groups, in a statement.

Other states that have recently passed minimum wage laws include Delaware, where it will rise to $8.25 an hour in June 2015 and West Virginia to $8.75 an hour in 2016.
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http://money.cnn.com/2014/04/07/news/economy/maryland-minimum-wage/
 
I never know how i feel about this stuff.

On one hand the companies will pass this onto the consumers some how...or they will just cut jobs. But on the other hand it will give people more money and bring something like 900,000 people above the poverty line...which would make them not eligible for all the government benefits? And they will be able to pump more money into the economy
 
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Lol i thought it was gonna jump $3 at first.

Good stuff though. Hearing about grown adults with kids making 7.50 is always hard to hear.
 
Connecticut did the same recently. It won't help anyone lets be honest.
 
By July 2018 the min is going to be 10.10, smh.

It barely ahead of the rate of inflation, so by 2018 their real wage will be around what they are making now.

sad
 
JJ Watt said:
Dudes gonna be buying foams left and right now.
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Does this mean MD is gonna get taxed more??


on a different note MD also is in the process for deciminalizing
 
yotk13 said:
RIP to da economy :smh:
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I really don't think raising the minimum wage damages an economy anywhere near as much as Fox News would like you to believe. There are other contributors that have a much note significant impact on inflation
 
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