MIDDLESEX, Vt.—Governor Peter Shumlin signed into law legislation to increase Vermont’s minimum wage Monday.
The law would raise minimum wage from its current rate of $8.73 to $10.50 per hour by 2018.
“States like Vermont realize that working people can’t support their families on the current minimum wage, and we’re moving ahead to do the right thing on our own,” said Gov. Shumlin.
The Governor stated that the phase-in approach softens the impact of the wage increase on businesses. The Vermont rate will climb to $9.60 in 2016, $10 in 2017 and finally $10.50 in 2018.
“And raising the wage for the lowest paid will spark increased economic activity and security that will benefit the economy as a whole,” said Gov. Shumlin.
More than half of the states have already raised their minimum wage above the federal rate.