SPRINGFIELD, Ill. (CBS) — The Illinois State Senate Executive Committee has approved a plan to increase the state’s minimum wage, and let it increase automatically in the future.

As WBBM Newsradio’s David Roe reports, the bill that moved out of committee by a vote of 9-5 Wednesday would increase the state’s current minimum wage of $8.25 per hour by about 50 cents an hour every year until it reaches $10.55 per hour.

LISTEN: WBBM Newsradio’s David Roe reports

That number matches the buying power of the minimum wage in 1968, when it was $1.60 per hour.

After reaching $10.55, the minimum wage would go up by the cost of inflation every year.

State Sen. Kimberly Lightford (D-Chicago) is the sponsor of the proposal, S.B. 1565, and said more work is needed before it becomes law. She says the bill is still being negotiated.

Opponents say the increase would force businesses to cut hours and employees.

(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS Radio and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press contributed to this report.)

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