Gov. Rick Snyder this evening signed bipartisan legislation raising Michiganâ??s minimum wage to $9.25 an hour by 2018, a move he said will help hard-working residents without hindering the stateâ??s improving economy.
Senate Bill 934 increases the minimum wage from $7.40 an hour to $9.25 over the next four years and would be adjusted to the rate of inflation or 3.5 percent, whichever is lower, starting in 2019.Tipped employees would have a rate that is 38 percent of the minimum, or about $3.51 an hour.
â??I commend my partners in the Legislature for finding common ground on a bill that will help Michigan workers and protect our stateâ??s growing economy,â?? Snyder said. â??Michigan is the comeback state, and our goal always should be long-term success for our residents and our state as a whole.â??
The Republican-led House voted 76-34 and the GOP-controlled Senate 24-12 Tuesday sending the bill to the Governor's desk.The compromise was struck a day before a committee planned on turning in petition signatures for a higher minimum wage hike.