The proposed increase in California's minimum wage to $15 an hour would affect approximately 5.6 million workers, representing 37% of the state's workforce. The increase would be phased in over several years, with large businesses required to raise the wage to $15 by 2022 and small businesses by 2023. The wage would also be indexed to the cost of living starting in 2024. The proposal is expected to result in wage increases for workers in the bottom and middle of the distribution, while pay for workers at the top remains unchanged.
