$13 on January 1, 2023;
$14 on January 1, 2024 and
$15 on January 1, 2025.
In contrast, Bank of America announced this week that it has set its own minimum wage of $25 per hour for employees effective immediately. And, President Joe Biden announced that the minimum wage for all federal contractors is $15.
“At last, Rhode Island is on the path toward breaking the cycle of poverty for those at the bottom of the wage spectrum. Minimum wage has not kept pace with inflation over the decades, and our neighboring states have already taken this step toward making it closer to a living wage,” said Rep. David A. Bennett (D-Dist. 20, Warwick, Cranston), House bill sponsor.