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Minimum Wage Increase for Employees of Large Corporations

This bill proposes a gradual increase in the federal minimum wage for employees of companies with annual revenues exceeding one billion dollars. These changes aim to improve the financial conditions of workers in large corporations, excluding tipped employees.
Key points
The minimum wage for employees of large companies will increase to $9.50 per hour, then gradually to $15.00 over four years.
Five years after the law takes effect, the minimum wage will be adjusted annually based on the increase in the median hourly wage of all employees.
These changes apply only to companies with annual revenues over one billion dollars and do not include tipped employees.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_555
Sponsor: Sen. Hawley, Josh [R-MO]
Process start date: 2021-03-03
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to amend the Fair Labor Standards Act of 1938 to increase the Federal minimum wage for employers with at least $1,000,000,000 in annual revenue, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_555.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-03.

What are the main provisions?

Key points include:

  • The minimum wage for employees of large companies will increase to $9.50 per hour, then gradually to $15.00 over four years.
  • Five years after the law takes effect, the minimum wage will be adjusted annually based on the increase in the median hourly wage of all employees.
  • These changes apply only to companies with annual revenues over one billion dollars and do not include tipped employees.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Hawley, Josh [R-MO].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Labor Economy