SPRINGFIELD, Ill. – State Rep. Kathleen Willis, D-Addison, voted to pass a fair minimum wage bill that balances working families’ need for fair pay with the interests of local small business, while generating billions of dollars in new economic activity.
“This bill provides a fair wage that working families need to keep up with the cost of living, while also understanding the needs of small and medium-sized employers in our community,” said Willis. “This is about making Illinois a better place to live and work.”
Willis voted to pass Senate Bill 1, which provides a series of modest annual increases in the minimum wage over the course of five years to ensure pay keeps up with the cost of living, while also providing tax credits for every businesses and non-profits with fewer than 50 employees, which will help up to 80 percent of Illinois employers offset a significant portion of these new wages. Local families will reinvest these higher wages in the local economy, pumping more dollars into local businesses; according to the Illinois Economic Policy Institute, the wage increase will generate $19 billion in new economic activity every year, helping local businesses succeed and grow.
“A fair wage is an investment in our local economy, by helping families keep up with the rising costs of housing, education and health care – which in turn pumps more dollars into local businesses,” said Willis. “Both workers and businesses know that our economy only truly can succeed when hardworking families have spending power and economic security. This bill makes the state a partner in this effort.”