Analyst: Wage hike would cost California taxpayers $3.6B

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(Associated Press) Raising the minimum wage in California to the highest statewide level in the nation would eventually cost taxpayers an additional $3.6 billion a year in higher pay for government employees, legislative analysts determined.

The estimate was disclosed as an Assembly committee gave initial approval Wednesday to boosting the wage to $15 an hour by 2022. The full state Assembly and Senate could vote on the deal between Democratic Gov. Jerry Brown and labor unions as early as Thursday.

The financial projection does not examine the broader economic impact that the proposed wage hike would have on businesses in the state.

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