Business

Amendment 70 forcing some CO businesses to increase prices

Amendment 70 forcing some CO businesses to increase prices

PUEBLO, Colo. - With the passing of Amendment 70 in November, some local business owners say they may not be able to afford to pay their employees the new minimum wage.

Colorado voters decided to join other states around the country by voting to raise the minimum wage to $12/hour by the year 2020. 

The plan is to raise it to $9.30 starting January 1 and it will increase from there. 

The current minimum wage is $8.31.

The wage increase could hurt small local businesses that may already be struggling to afford to pay their employees.

“The only thing we can do here at Angelo's without letting people go is increase our prices somewhat,” said Debby Foresta, owner of Angelo’s Pizza Pasta.

The new minimum wage will increase full-time minimum-wage worker's pay from a little over $17,000/year to almost $25,000/ year by 2020. 

 


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