This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Minimum Wage Hike Heads To Minn. House Floor

By KYLE POTTER

ST. PAUL, Minn. (AP) â¿¿ Many Minnesota workers would get a pay hike, extra time to spend with newborns and recently adopted children and more overtime pay in the minimum wage bill that is headed to the House floor.

The House Ways and Means Committee approved legislation Monday that would increase Minnesota's floor wage in three steps until it hits $9.50 per hour in 2015. After that, it would increase automatically according to inflation. The measure also doubles the time new parents can take unpaid leave â¿¿ from six to 12 weeks â¿¿ and lowers the threshold at which most employers need to start paying overtime, from 48 hours to 40.

Republicans on the committee fought against those changes, which they said were not thoroughly vetted after being added over the weekend.

Rep. Jim Abeler, R-Anoka, said the parental leave and overtime revisions would change "the minimum wage bill to a workplace reform bill that will make it tough on small business. They don't have the flexibility to handle workload changes."

The bill is expected to come up for a full House floor vote by Friday. With Democrats in control of state government, some raise to the state's minimum wage has a good chance of becoming law this session.

Minnesota last raised its minimum wage in 2005. At $6.15 an hour, it's one of just four states with a lower wage than the federal minimum of $7.25 per hour, though most state workers receive the federal wage.

The House Democrat leading the push for the hike said time to tether the state's minimum wage to inflation so that another eight years don't pass before the next increase.

"By creating an inflationary adjustment, we're actually giving business a much more predictable, smooth path," said Rep. Ryan Winkler, DFL-Golden Valley.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs