Is the D.C. Wage Bill Dead?
Wal-Mart’s (NYSE:WMT) plans to enter Washington D.C. have been on hold for months due to proposed legislation that would force the largest retail employers in the city to pay more. Now Wal-Mart has good news, reports the Washington Post.
The bill, known as the Large Retailer Accountability Act, was passed by D.C. legislators back in July. The bill states that minimum wage would have to be raised from $8.25 an hour to $12.50 an hour at big box stores with more than 75,000 square feet and over $1 billion in annual sales. There was also an exception in the legislation for employers who had come to a bargain with their employees.
Wal-Mart had been planning to put as many as six stores in the D.C. area until the news of this bill came out. However, that is no longer an issue since Mayor Gray vetoed the legislation last week as the retail giant looks like its plan to enter D.C. is continuing.