Jon Allison’s Monday Blog
On January 1, 2017 the minimum wage in Ohio will increase from $8.10 an hour to $8.15 an hour. Ohio employers with gross receipts of more than $299,000 must pay Ohio minimum wage. Ohio employers with gross receipts of less than that must pay federal minimum wage which is currently $7.25 an hour. Back in 2006 voters in Ohio passed an amendment to Ohio’s Constitution tying the minimum wage in Ohio to the rate of inflation measured by the Consumer Price Index. With the election coming up and because federal law trumps state law (pun intended), it’s worth a look at the positions of the presidential candidates on the federal minimum wage. Clinton is in favor of raising the federal minimum wage to $12.00 an hour. An Ohioan working 40 hours a week would see an increase in yearly earnings from $15,080 (which is below the poverty threshold for a family of at least 2) to $24,960. Trump has recently voiced support for raising the federal minium wage to $10.00 an hour which would result in yearly earnings of $20,800.