SPRINGFIELD, Ill. – Focused on balancing the need for fair pay for families with the needs of small businesses, state Rep. Natalie Manley, D-Joliet, supported a minimum wage plan Thursday that is expected to generate $19 billion in new economic activity annually across the state while making Illinois a more attractive place to live and work.
“Hard-working men and women deserve to be paid fairly in order to provide for their families,” Manley said. “The legislation that I supported will gradually and responsibly raise the minimum wage, while also providing tax breaks to help small businesses pay for these increases. Additionally, the measure will generate billions of dollars in new economic activity that will help local businesses grow.”
Under the Manley-backed Senate Bill 1, the state’s minimum wage will gradually increase over the next five years to an eventual rate of $15. Included in the measure are new tax credits for small and medium-sized businesses, including non-profits, that will help offset the cost of additional wages. The tax credits will impact more than 80 percent of businesses that call Illinois home. The overall impact of the wage increase is expected to be positive, with the Illinois Economic Policy Institute expecting the plan to generate more than $19 billion annually in new economic growth statewide once fully implemented.
“Workers who only earn minimum wage already struggle to make ends meet, especially with the rising cost of health care, food, and education,” Manley said. “The extra pay will allow local residents to spend more at restaurants, grocery stores, retail and other businesses, which will help our community succeed.”
For more information about legislation or upcoming events, contact state Rep. Manley’s constituent service office at 815-725-2741 or RepManley@gmail.