BREAKING NEWS: After months of debate and hours of arguing on the floor, the Chicago City Council passed a resolution today requiring certain large employers to pay a living wage.

The bill require stores with at least 90,000 square feet that are operated by companies that annually do $1 billion or more in sales to increase their wages and pay benefits to their employees. By July 2010 such stores must pay at least $10 an hour and give an additional $3 in fringe benefits an hour.

Mayor Daley still has the opportunity to veto the bill, but enough Aldermen support the bill to override his veto.