California Passes $20 Minimum Wage for Fast Food Workers, Chains Say Prices Will Rise

California fast food workers will be paid at least $20/hr starting in 2024 under new law signed by Gov. Newsom.

McDonald's and Chipotle say they will raise prices in California to offset higher labor costs.

McDonald's has already raised prices nationwide despite falling inflation, boosting profits.

Higher prices expected to impact lower income consumers most.

Labor unions dropped attempt to make corporations liable for franchisee actions in exchange for wage hike.