According a report published by the Orange County Register, supporters of the initiative have gathered enough valid signatures to get the measure on the ballot for the general election in November 2024.
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The measure would increase the state's minimum wage to $18 by 2026.
The state's minimum wage is already set to increase to $15.50 for all workers in 2023.
The initiative is being led by entrepreneur and anti-poverty advocate Joe Sanberg.
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The Orange County Register reports Sanberg has said an $18 minimum wage would give $6,240 more per year to more than 5 million California workers.
A similar effort to place the measure on the ballot this year was unsuccessful because not enough signatures could be verified ahead of the deadline.