SPRINGFIELD, Ill. – To help Illinois’ hardworking families and businesses, state Rep. Carol Ammons, D-Urbana, voted to raise Illinois’ minimum wage to $15 an hour.
“Raising the wage will not only allow families to have more money to afford the high costs of everyday living but will generate more economic activity that will help foster continued growth each year,” said Ammons. “Businesses will also benefit from this raise as there will be new incentives to help them afford the costs of an increased minimum wage.”
Ammons backed Senate Bill 1, which sets Illinois’ minimum wage to $15 over the course of five years. Approximately 1.4 million workers would benefit from a higher wage, 60 percent of whom are over the age of 30. Single women and parents supporting their children stand to gain the most from higher wages as they will be able to use their extra income to care for their families and pay for everyday essentials like food and health care.
Additionally, this legislation contains tax credits for businesses with fewer than 50 employees, which accounts for nearly 80 percent of Illinois’ employers, to help them cover the costs of the wage increases. According to the Illinois Economic Policy Institute, a $15 per hour minimum wage will result in $19 billion in new economic activity and families would see their incomes rise by $5,000 annually.
“The last time Illinois raised its minimum wage, there was consistent job and business growth for 48 consecutive quarters that steadily developed our economy,” said Ammons. “I want to thank Gov. J.B. Pritzker and his administration for their strong commitment to raising the wage for millions of Illinoisans. I want the Governor and my colleagues to know that I recognize what this historic vote and his signature truly means.”