The bill S.67, introduced by Senators Clarkson, Gulick, Watson, and White, aims to increase the state minimum wage to a livable wage as defined by the basic needs budget. The legislative intent emphasizes the need to address affordability concerns by raising the minimum wage to $18.60, effective January 1, 2026, with future increases tied to either a five percent increment or the percentage increase of the Consumer Price Index, whichever is smaller. The bill also establishes a new definition for "livable wage," which is based on the average hourly wage necessary for a full-time worker living in shared housing with employer-assisted health insurance.

Additionally, the bill amends existing laws to reflect these changes, including the deletion of the previous minimum wage of $12.55 and the adjustment of the effective date for the new wage to July 1, 2025. This comprehensive approach aims to ensure that the minimum wage aligns with the cost of living, thereby enhancing the economic well-being of workers in Vermont.

Statutes affected:
As Introduced: 21-383, 21-384