On April 27, 2021, President Biden issued an Executive Order, effective Jan. 30, 2022, requiring certain federal contractors to pay a $15 minimum wage to workers who work on federal contracts and to adjust the wage annually according to the consumer price index to reflect changes in the cost of living. The current minimum wage for federal contracts is $10.95 per hour. Beginning March 30, 2022, federal agencies will be required to incorporate the $15 minimum wage into new contract solicitations and into existing contracts extended by the contracting parties.

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