Business Costs & Regulation

How High Will Your State's Minimum Wage Be on January 1, 2017?

By the start of next year, 29 states and Washington, D.C., will have minimum wages higher than the federal level.

Wage inequality remains one of the hottest issues of the 2016 presidential campaign. Hillary Clinton, the presumptive Democratic Party nominee, supports a federal minimum wage of $12 an hour; she has also shown support for local rates of $15 an hour. Presumptive Republican nominee Donald Trump has been less clear. During a November GOP primary debate, Trump said, “Wages [are] too high. We're not going to be able to compete against the world. I hate to say it, but we have to leave it where it is.” In a Meet the Press interview last month, Trump showed support for an “increase of some magnitude,” although he argued that this increase should come from the states rather than federal legislation.

The federal minimum wage has remained the same since it was raised to $7.25 an hour in 2009. In lieu of federal action, many states have started to raise wages on their own. For instance, New York will gradually raise its minimum wage to $15 an hour, with large businesses in New York City reaching the benchmark by the end of 2018 and other jurisdictions reaching it on an indexed schedule beginning in 2021. California will raise its minimum wage to $15 an hour as of January 1, 2022, for large employers and January 1, 2023, for small employers. Washington, D.C. will raise its minimum wage to $15 an hour as of July 1, 2020. Hawaii, Maryland and Vermont all will have minimum wages higher than $10 an hour as of January 1, 2018.

By the start of next year, 29 states and Washington, D.C., will have minimum wages higher than the federal level. In the infographic below, we compare minimum wages, as of 2017, across the states:

View larger image

Thinkstock

Most Popular

Child Tax Credit 2021: Who Gets $3,600? Will I Get Monthly Payments? And Other FAQs
Coronavirus and Your Money

Child Tax Credit 2021: Who Gets $3,600? Will I Get Monthly Payments? And Other FAQs

People have lots of questions about the new $3,000 or $3,600 child tax credit and the advance payments that the IRS will send to most families in 2021…
May 4, 2021
Are You Still Chasing the Almighty Dollar, Even Though You Have Plenty to Retire?
retirement

Are You Still Chasing the Almighty Dollar, Even Though You Have Plenty to Retire?

In our experience, many have saved enough money to retire comfortably. Yet too many worry about their money running out and want more. Maybe it’s tim…
May 6, 2021
9 Tax Deadlines for May 17 (It's Not Just the Due Date for Your Tax Return)
tax deadline

9 Tax Deadlines for May 17 (It's Not Just the Due Date for Your Tax Return)

Between due dates for extension requests, IRA or HSA contributions, and other deadlines, there's more to do by May 17 than just filing your federal in…
May 4, 2021

Recommended

Our "K-Shaped," Uneven Economic Recovery
Economic Forecasts

Our "K-Shaped," Uneven Economic Recovery

Confidence is key to the recovery, but the sentiment depends on consumers’ financial circumstances.
April 29, 2021
Reliving a Harlem Renaissance
Business Costs & Regulation

Reliving a Harlem Renaissance

After a tough winter, two sisters look forward to reviving their restaurant’s business.
April 29, 2021
37 Ways to Earn Extra Cash in 2021
business

37 Ways to Earn Extra Cash in 2021

We flag a wide variety of cool side hustles to earn bonus bucks to cover expenses expected and unexpected as we begin to emerge from the pandemic lock…
April 8, 2021
PPP Loan Basics for Small Business Owners
Coronavirus and Your Money

PPP Loan Basics for Small Business Owners

Although uncertainty and confusion have surrounded the Paycheck Protection Program since its launch, that shouldn't stop small business owners from pa…
March 30, 2021