The Los Angeles City Council Tuesday morning agreed to increase the city's minimum wage. The city attorney's office will now draft an ordinance and bring it back to the council for a second vote. Here is what you need to know about the proposal:
How much will wages increase?
The Economic Development Committee wants the city's minimum wage to be $15 per hour by July 1, 2020. Wages would gradually increase beginning next year:
July 1, 2016: $10.50
July 1, 2017: $12.00
July 1, 2018: $13.25
July 1, 2019: $14.25
July 1, 2020: $15
I'm a small-business owner. Will I have to increase wages for my...