The Florida Fair Pricing and Equitable Compensation Act establishes mandatory benefits at 15 hours per week & ties price raises to inflation (CPI).
- Ties market access and pricing limits to worker benefits and compensation.
- Requires annual reporting for compliance, ensuring more price transparency.
- Benefits for employees at 15 hrs/week.
- Makes it illegal to limit employee hours to avoid providing benefits.
- CPI guardrails for price hikes.
- Puts more money into the workforce to rebuild the middle class and strengthens quality of life for low wage roles.
- If executive/top-earner pay is no more than 500% (or 600% for small businesses) of that of the lowest-paid workers, additional price increases are possible.
- Enforced through the Florida Attorney General (AG) with the ability to fine after a notice and cure period to ensure due process.
The Florida Fair Pricing and Equitable Compensation Act is estimated to:
- Reduce public assistance by $200–400 billion.
- Increase sales tax revenue by over $600 billion (upward estimates at $1.1 trillion) with administrative costs of $25 million.
- Provide median wage increases starting at 1.7% in Year 1 with increases year over year.
- After a potential 1–3 year dip in employment of 0.1%, steady employment gains by Year 5.