
Will Missouri’s Minimum Wage Go Up and If So, By How Much?
Many are asking this question and the answer is somewhat complicated. Will Missouri's minimum wage go up and if so, by how much? That depends on several factors.
The question of whether those in Missouri who currently earn minimum wage will see a pay increase next year and the year after depends on voters first and foremost. The state of Missouri has confirmed that Proposition A is on the ballot and you get to decide if the minimum wage in the state goes up or not.
Currently, Missouri's minimum wage is $12.30 per hour.
If approved, here's what will happen.
- As of January 1, 2025, minimum wage in Missouri would raise to $13.75 per hour
- As of January 1, 2026, minimum wage in Missouri would get bumped up again to $15 per hour
Is raising the minimum wage in Missouri a good idea?
That depends on who you ask. Investopedia says that some business owners will cut jobs if they are forced to pay more per hour. They also warn that it could "fuel inflation".
Employees (that don't lose their jobs as a result) would be happy because their income would rise and perhaps keep up better with the increased cost of living.
One curious detail I noticed on the Missouri ballot details of Proposition A is how it might affect tax revenues from businesses based on decisions they make as a result.
I hate it when those in the media or "influencers" sound off on issues like this because it really should come down to the beliefs of everyday folks that have to live with the consequences. I would, however, recommend reading all the details of the Missouri issues that will be on the ballot well ahead of November 5 so you know the decisions you make when you make those selections in the booth.
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