Economic Analysis of the Florida Minimum Wage Proposal

On the November 2004 ballot, citizens of Florida will have the opportunity to vote on a proposal to raise the statewide minimum wage to $6.15 per hour. The measure also calls for tipped workers getting a raise from the current federal mandate of $2.13 to $3.13. The measure includes an automatic cost-of-living adjustment, by which further raises in the statewide minimum wage would occur automatically at the national inflation rate. If Florida voters approve this measure, Florida will become the 13th state in the country to operate with a minimum wage above the federal minimum. Economic Analysis of the Florida Minimum Wage Proposal analyzes the costs and benefits to businesses and workers as well as the fiscal impact of the proposal.