Illinois Proposal to Raise Minimum Wage to $27 Sparks Concerns

A new proposal from Illinois lawmakers could raise the state's minimum wage over the next several years, but not everyone is here for it.

Several Illinois senators are pushing legislation that would gradually raise the state's minimum wage to $27/hr by the year 2032.

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If the proposal actually passes, the first change would happen quickly.  The current minimum wage is $15/hr, and the bump would increase to $17 starting in May of this year.  From there, the wage would stay $17 through the end of 2027.  Then, it'll increase by $2 every year util it reaches $27 in 2032.

Thoughts?

Illinois Proposal to Raise Minimum Wage to $27 Sparks Concerns

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Supporters say raising wages would help workers keep up with rising living costs, but some business owners say the increase could create serious challenges for local employers.  According to National Federation of Independent Business Illinois State Director, Noah Finley, small business owners are already struggling to keep up with the current wage and benefit mandates.

Some businesses have been seeing higher labor costs for years and might not have the flexibility to increase their employee wages.  Finley said that if wages continue to increase, some business owners will be forced to raise prices even further, something not many can realistically do.

Some business owners say the proposal could threaten their ability to even stay open.  Profit margins could be reduced, and it might not be financially possible to handle.

Debate over the proposal is expected to continue as Illinois lawmakers weigh the potential benefits for workers against the concerns being raised by small business owners across Illinois.