An Illinois House committee on Wednesday advanced a bill that would gradually raise the state’s minimum wage to $15 an hour by 2022.

 

Even though tax credits would be available to small businesses to help cover the costs, opponents say it would still have a negative effect on the business community.

 

Rep. Will Guzzardi, D-Chicago, the main sponsor of the bill, said the increase is necessary because corporate profits are going up but workers’ pay isn’t.

 

“In 2014, corporate profits are at their highest levels in at least 85 years. Employee compensation is at the lowest level in 65 years. Something is fundamentally wrong with the economy,” Guzzardi said. “What we’re proposing here is to join a growing movement of states and cities that are slowly, cautiously raising the minimum wage to a decent living standard.”

 

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