Minimum Wage Laws in the Spotlight

This week, Craig Siminski, of CMS Retirement Income Planning, shares an article discussing the economic impact of laws increasing the minimum wage:

In the November 2020 election, Florida voters approved an initiative to increase the minimum wage incrementally to $15 per hour by 2026. Eight states (plus the District of Columbia) have passed legislation to raise the minimum wage in steps to $15, but Florida will be the first state to do so through a ballot measure.

Considering the obvious appeal of bigger paychecks among working-class voters, the minimum wage could become a bigger issue in more places.

State labor laws vary widely, and there has been more pressure to raise the minimum wage in states with higher living costs. Twenty-nine states and the District of Columbia have minimum wages higher than the federal wage floor of $7.25, which hasn’t been adjusted since 2009.

Some cities have enacted minimums that exceed state levels, and a few large employers have increased pay for entry-level employees nationwide, making it more expensive for…

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Craig Siminski is a CERTIFIED FINANCIAL PLANNER™ professional, with more than 22 years of experience. His goal is to provide families, business owners, and their employees with assistance in building their financial freedom.

Please let Craig know that the Green Bay News Network Sent You.

CMS Retirement Income Planning

Craig Siminski is a Retirement Income Planner professional with twenty two years of experience. His goal is to help ensure his clients will have enough income to maintain their dignity and independence in retirement.

Craig is committed to designing and implementing financial strategies that focus on his clients’ needs.  He seeks to be a lifetime resource for each and every client.

Give him a call at 920-569-8363 or email him at csiminski@equitydesigngroup.com and tell him the Green Bay News Network sent you!