Final Decision Made On Raising Minimum Wage To $15 In CT

HARTFORD, CT — Gov. Ned Lamont and Lt. Governor Susan Bysiewicz applauded the Connecticut State Senate for giving final approval to legislation that will raise the minimum wage in the state to $15 through a series of gradual increases over the next several years. The minimum wage will then grow with the economy, so everyone can share in Connecticut’s prosperity, the two top state lawmakers said Friday morning.

The State Senate approved the bill today by a vote of 21-14. It already received approval in the House of Representatives last week, and will be sent to Lamont, who said that he will sign it into law.

“Working families are the backbone of our state – if they are not financially stable, Connecticut will never be,” Lamont said. “With this increase in minimum wage, thousands of hardworking women and men – many of whom are supporting families – will get a modest increase that will help lift them out of poverty, combat persistent pay disparities between races and genders, and stimulate our economy. This is a fair, gradual increase for the working women and men who will invest the money right back into our economy and continue supporting local businesses in their communities."

While Lamont cheered the approval, some folks are concerned about the impact it will have on business in the state. The Yankee Institute published a story saying that FORUM Plastics, LLC of Waterbury, will be forced to leave Connecticut once the new law becomes official. The company employs 153 people. A company official told The Yankee Institute "we will have no choice but to leave. And it’s very sad.”

The official said the company's profit margins would go from about eight percent to just around two percent and that will impact the company's ability to be competitive.

But Bysiewicz said raising the minimum wage to $15 an hour brings Connecticut one step closer to eliminating the gender pay gap because nearly 60 percent of minimum wage earners in the state are women.

“I applaud the members of the State Senate for standing with women across our state and voting in favor of legislation to increase the minimum wage. Women’s issues are economic issues and if we want to grow our economy, we need to ensure that women have financial security in order to provide for their families," Bysiewicz said.

Once enacted, the bill will result in the state’s minimum hourly wage being increased from its current level of $10.10 to:

· $11.00 on October 1, 2019;
· $12.00 on September 1, 2020;
· $13.00 on August 1, 2021;
· $14.00 on July 1, 2022; and
· $15.00 on June 1, 2023.

Ultimately, beginning January 1, 2024, the minimum wage will be indexed to the employment cost index, which is calculated by the U.S. Department of Labor.