Confused About I-1433 Minimum Wage Intiative? Here’s a Voter’s Guide
So much has been said about I-1433, which would gradually raise the state's minimum wage to $13.50 by the year 2020, and add mandatory paid sick leave for every worker (regardless of the business) by the year 2018. How will it affect business? How will it affect you, and retail-business prices?
Courtesy of the Washington Policy Center, a non-profit group dedicated to sound fiscal, economic and governmental policies, we present a voter's guide that goes beyond the one you receive in the mail.
The WPC has done a thorough analysis of the effects this initiative would create. Some of the known provisions in the plan include:
- The provisions in the plan would apply to all business, whether they employ 2 or 2,000 workers. The espresso stand on the corner would have to offer the same paid sick leave as a large company.
- There is no limit to how much paid sick leave a worker could accrue in one year. This differs greatly from most of our jobs. Typically, drawing upon 'average' experiences from our own jobs, and others we know, you can accrue anywhere from 1-3 weeks of vacation a year depending upon tenure and position, but sick time accrues at a much lower rate.
- This is in addition to the rising minimum wage costs.
But what are the long-term financial effects? Click here to read the in-depth analysis by the WPC.