CNNMoney reports Vermont lawmakers passed a bill Saturday that raises the minimum wage in phases from $8.73 to $10.50 by 2018. Read the article here.

“I thank the legislature for doing the right thing for working Vermonters by raising the minimum wage," said Gov. Peter Shumlin. "Everyone who puts in a full day’s work deserves a paycheck that will give their family a fighting chance. This bill will phase in a higher wages in line with many of our neighboring states, and I will be proud to sign it.”

Legislation to raise the federal minimum wage to $10.10 in a series of steps was recently defeated in the U.S. Senate. However, some states have opted to raise their minimum wages. Read about the issue here.