FOX Business Flash top headlines for May 3
00:00
00:0002:11GO LIVE
Embed
SpeedNormal
Autoplay
The Hawaii legislature passed a bill Tuesday to raise the state's minimum wage to $18 per hour by 2028, up from the current $10.10 minimum.
The $18 minimum wage would be the highest in the nation, although some states automatically raise their minimum wage to reflect the cost of living. This means areas like California could have a higher minimum wage by 2028 due to inflation.
The bill overwhelmingly passed the state House and Senate, both of which are Democratic-controlled, and now heads to Democrat Gov. David Ige's desk. The governor is expected to sign the measure into law.
The legislation, House Bill 2510, would raise the minimum wage in smaller increments over the next several years before implementing the $18 minimum. The state's first wage increase under the bill would begin at $12 per hour starting Oct. 1. Wages would then increase to $14 per hour in 2024, $16 per hour in 2026 and $18 per hour in 2028.
TEXAS LEADS MULTI-STATE LAWSUIT AGAINST BIDEN ADMINISTRATION FOR FEDERAL MINIMUM WAGE HIKE
Supporters of the bill have said the increase is necessary given the state's high cost of living while some businesses say they will have to make staff cuts or even shut down because they will not be able to afford to pay their workers higher wages.
State House Speaker Scott Saiki said a major factor in his decision to support the higher wage was a study that...
NEWS Spurred by netizens, a domestic investigation found that the company’s listed overseas production address was linked to an unrelated Australian auto shop. A top-selling Chinese health suppleme...