$15 on Federal Contracts Beginning in 2022
On Apr. 21, President Biden issued an Executive Order (EO) requiring federal contractors to pay a $15 minimum wage to employees working on federal contracts. The increase builds on a 2014 EO signed by President Barack Obama that previously raised the minimum wage for federal contractors to $10.10, indexed to inflation. President Biden’s E.O. orders all agencies by January 30, 2022, to incorporate a $15 minimum wage in new contract solicitations, and by March 30, 2022, all agencies will need to implement the $15 minimum wage into new contracts. The E.O. indexes the minimum wage to inflation for every year after 2022 and orders the Department of Labor to issue regulations by November 24, 2021, to implement the requirements of this order.
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