SPRINGFIELD, Ill. – Committed to ensuring working families earn enough to be able to support themselves and their communities, state Rep. Dan Didech, D-Buffalo Grove, voted to pass legislation that would gradually increase the minimum wage to $15 per hour by 2025, while also providing tax credits for small and medium-sized businesses.
“With the costs of everyday necessities like food and health care increasing, we must ensure that working families earn enough to be able to provide for their children,” Didech said. “This legislation will ensure that families earn a living wage while also balancing the needs of small businesses by providing them tax credits.”
Didech supported Senate Bill 1, which would increase the statewide minimum wage on a modest scale starting at $9.25 per hour on Jan. 1, 2020, to $15 per hour by Jan. 1, 2025. According to the Illinois Economic Policy Institute, a $10 minimum wage would generate $5 billion in new economic activity, while a $15 minimum wage would generate $19 billion. The Didech-backed bill also provides a tax credit for small and medium-sized employers, including non-profits, with under 50 employees to help them offset the increased wages.
“The reality is that a majority of Americans live paycheck to paycheck, and 40 percent of families cannot afford a $400 emergency expense,” Didech said. “A minimum wage increase is not only the right thing to do, but a smart one as families will put billions of dollars back into our local economy.”