The Vermont legislature voted Friday to hike the minimum wage to $10.50 by the year 2018. The bill's 132-4 passage was pushed through just one day before the legislative session ended.
According to the bill:
Beginning January 1, 2016, an employer shall not employ any employee at a rate of less than $9.60. Beginning January 1, 2017, an employer shall not employ any employee at a rate of less than $10.00. Beginning January 1, 2018, an employer shall not employ any employee at a rate of less than $10.50...on each subsequent January 1, the minimum wage rate shall be increased by five percent or the percentage increase of the Consumer Price Index...but in no event shall the minimum wage be decreased.
The state's current hourly wage of $8.73 is already one of the highest in the nation. On it's current trajectory lawmakers seem intent on keeping it that way. Gov. Peter Shumlin (D) has already stated his support of the bill:
Connecticut, Delaware, Maryland, Minnesota, West Virginia and D.C. have also passed minimum wage increases this year.