Dwell Outcomes: Florida is contemplating a $ 15 minimal wage

Florida voters are considering raising the minimum wage.

On the Florida ballot is Amendment 2, which aims to raise the state minimum wage from its current $ 8.56 to $ 15 by September 30, 2026. The change would be gradual, with employers being encouraged to raise wages by a substantial $ 1 a year.

The move toward a $ 15 minimum wage has gained momentum across the country in recent years and is now part of the Democratic Party’s platform. Currently, the federal minimum wage is just $ 7.25, but 29 states – including Florida – and Washington, DC have a higher floor.

If Florida voted yes to Amendment 2, it would be the first state in the south and the eighth state in the country to move to $ 15. According to Fight for $ 15, a group advocating a $ 15 minimum wage, Virginia is the only southern state to have recently raised its minimum wage, but to $ 12, not $ 15. that Amendment 2 would raise wages for 2.5 million Florida workers.

The talk behind a $ 15 minimum wage is complicated, as some business owners and politicians are obviously concerned that it could cost jobs or increase costs for consumers. A 2019 study by the Congressional Budget Office estimated that a minimum wage of $ 15 would lift 1.3 million people out of poverty, but would also cost the same amount of jobs. (Other economic studies have shown that the risk of job loss is not that great.)

One of the problems with forecasting the impact of a $ 15 minimum wage is that not enough agencies have done it to see the real consequences. If Florida passes Amendment 2, it will be another case study.

Florida Amendment 2

A yes vote means that Florida’s minimum wage will reach $ 15 by September 2026.

A no means Florida’s base wage will stay at $ 8.56.

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