It's official: Kate Brown signs minimum wage bill for $14.75 in Portland

[Confounding]

It'll be interesting to see what this does to their economy.

It's official: Kate Brown signs minimum wage bill for $14.75 in Portland

Gov. Kate Brown signed historic increases to the minimum wage into law Wednesday, claiming a major win for Democrats and promising to uplift the working poor. Speaking to reporters in her ceremonial office at the Capitol, Brown said the bill is a well-crafted compromise between labor groups and businesses that demonstrates Oregon's wise culture of governing.

 

[Zander]

Good luck to them. Government intervention alwasy has unintended consequences.

 

[ScienceRocks]

Awesome news!!! About time.

Glad that if Ted cruz or Trump wins next year that at least in Oregon you will be able to work and earn enough to survive.

 

[ScienceRocks]

Good luck to them. Government intervention alwasy has unintended consequences.

Read some history about the benefits of government intervention as I wouldn't call the early 20th century anti-trust laws or the minimum wage such a failure. Not doing so is far worse.

 

[Zander]

Good luck to them. Government intervention alwasy has unintended consequences.

Read some history about the benefits of government intervention as I wouldn't call the early 20th century anti-trust laws or the minimum wage such a failure. Not doing so is far worse.

I don't know what will happen. Nobody does. Maybe it will work out well , maybe not. Regardless, there will be unintended consequences.

 

[Steven_R]

I don't know what will happen. Nobody does.

Nobody...except for every economist ever. It's right there in every Fundamentals of Microeconomics text ever written: rises in minimum wages results in reduction of buying power due to increased costs across the board for everyone AND losses in minimum wage jobs.

But it isn't like any of that matters when "The Feels" are on the line.

 

[DigitalDrifter]

Currently Oregon ranks as the 7th most expensive state to live in, with the legislature now having passed this bill, Oregon will get even more expensive.

America’s most expensive states to live in 2015

7. Oregon
"Dam," but prices are rising in the Beaver State, which has seen a big jump in food and housing costs in the past year. Want to drink beer with the hipsters in Portland? A six-pack of Heineken will set you back $11.53, almost 50 percent higher than the national average. Want a small cheese pizza—not the artisanal type, but a plain, thin crust at Pizza Hut? That will set you back $11.00.

• 2015 Cost of Living rank: No. 44 (7th most expensive)

America's most expensive states to live in 2015