Lansing – Republican Gov. Rick Snyder said Tuesday he will quickly sign legislation raising the state’s minimum wage to $9.25 an hour by 2018 after the state House and Senate approved the increase.

According to a press release, Senate Bill 934, increases the minimum wage from $7.40 an hour to $9.25 over the next four years and would be adjusted to the rate of inflation or 3.5 percent, whichever is lower, starting in 2019. Tipped employees would have a rate that is 38 percent of the minimum, or about $3.51 an hour.

The current hourly minimum wage is $7.40.

The goal of the group was to raise the state’s minimum wage to $10.10 an hour.  The ballot measure would have also raised the pay of tipped workers who currently earn $2.65 an hour.

Both the state House and Senate approved the legislation earlier today.

Starting in 2019, it will be tied to the rate of inflation, but the increase would be no more than 3.5 percent annually.

“I commend my partners in the Legislature for finding common ground on a bill that will help Michigan workers and protect our state’s growing economy,” Snyder said in a press release.

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