California legislators on Thursday voted to raise the state's minimum wage.
The bill, AB-10,
would increase the California minimum wage from its current $8 per hour
to $10 per hour over the course of four years beginning in January. As well, the bill would be adjusted annually using the California Consumer Price Index to maintain purchasing power.
Gov. Jerry Brown has come out in favor of the bill and is expected to sign it.
minimum wage has not kept pace with rising costs. This legislation is
overdue and will help families that are struggling in this harsh
economy," Brown said Wednesday.
But while the governor is pleased
with the bill, the same can't be said for all Californians. Some
critics believe the mandatory wage increase would put an unfair burden
on companies in the state.
The Valley Industry and Commerce Association's Stuart Waldman, calling the hike "obscene," told the Huffington Post "This is clearly being done by people who don't understand business."
warned of rising prices on consumer goods and services and of
businesses leaving the state if the bill is signed into law.