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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.
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Status:
Expired
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Additional Information
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.
Print number: S 555
Sponsor: Sen. Hawley, Josh [R-MO]
Process start date: 2021-03-03
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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Summary & Status

Key Questions about Minimum Wage Increase for Employees of Large Corporations

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is 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.

Analysis and Potential Impact of S 555

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Labor Economy