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Committee to look at minimum wage’s effect on economy

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A Missouri Senate committee on Tuesday approved an amendment to Senate Bill 255 that forms a joint committee to study the effects of Missouri’s recent minimum wage increase on the state’s economy.

Senate Bill 255 reinstates federal standards for overtime wages.

The Senate Committee on Small Business Insurance and Industrial Relations added language to the bill that creates the Joint Committee on Minimum Wage. It will be made up of five senators – three Republicans and two Democrats – and five members of the House of Representatives – also three Republicans and two Democrats.

The committee is to issue a formal report by Dec. 31.

Missouri voters in November approved a minimum hourly wage increase from $5.15 to $6.50. The increase took effect Jan. 1.

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