Federal government minimum wage news

Here are some recent news articles and updates on the federal government minimum wage:

Recent Developments:

On January 28, 2021, President Joe Biden signed an executive order increasing the minimum wage for federal contractors to $15 per hour, effective March 1, 2022.
In March 2021, the House of Representatives passed the Raise the Wage Act, which would gradually increase the federal minimum wage to $15 per hour by 2025. The bill has not yet been passed by the Senate.
In April 2021, the Senate Health, Education, Labor, and Pensions (HELP) Committee approved a bill to increase the federal minimum wage to $15 per hour by 2024.

Current Federal Minimum Wage:

The current federal minimum wage is $7.25 per hour, which has been in effect since July 2009.
The federal minimum wage has not been increased since 2009, despite inflation and rising costs of living.

Proposed Increases:

The Raise the Wage Act, if passed, would increase the federal minimum wage to:
- $9.50 per hour by July 1, 2022
- $11.00 per hour by July 1, 2023
- $12.50 per hour by July 1, 2024
- $15.00 per hour by July 1, 2025
Some Democratic lawmakers have proposed increasing the federal minimum wage to $15 per hour immediately, without a phase-in period.

Impact:

Raising the federal minimum wage to $15 per hour could benefit over 30 million workers, according to the Economic Policy Institute.
A higher minimum wage could also help reduce poverty and income inequality, as well as stimulate economic growth.
However, some businesses and economists argue that a higher minimum wage could lead to job losses and increased costs for employers.

State and Local Minimum Wage Laws:

Many states and localities have already implemented higher minimum wages than the federal minimum wage. For example:
- California: $14.00 per hour (effective January 1, 2022)
- New York: $14.20 per hour (effective December 31, 2021)
- Washington, D.C.: $15.00 per hour (effective July 1, 2021)

I hope this information is helpful!