Minimum Wage Raised to $15 for Federal Contractors

On April 27, President Biden issued an executive order requiring federal contractors to pay a $15 minimum wage to those working on federal contracts. The order takes effect starting January 30, 2022, and requires all agencies to implement the minimum wage into new contracts by March 30, 2022. Additionally, the order indexes the minimum wage for individuals working federal contracts to an inflation measure, with automatic changes occurring every year after 2022 to reflect the cost of living.