There is a new push to increase the minimum wage statewide to $12 an hour by 2020. Opponents warn a wage increase like this will actually kill jobs and force business owners to close their doors.

According to CBS4 in Denver:

A group called Colorado Families for a Fair Wage filed paperwork with the Colorado Secretary of State Thursday, which is the first step to getting the question before voters in the November election.

They released the following prepared statement:

More than 84 percent of Colorado workers who make less than $12 an hour are over the age of 20. Many are supporting families. A minimum wage of $12 by 2020 would bring Colorado workers back to an inflation-adjusted level close to the minimum wage in the late 1960s. Restoring that lost buying power in the minimum wage would help workers, businesses and the Colorado economy.

Currently, the minimum wage in Colorado is $8.31. That works out to approximately $17,000 a year. Could you and your family live on that?