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Federal Minimum Wage Increase to $15 Per Hour

This bill proposes to raise the federal minimum wage to $15 per hour. This means that individuals earning the minimum wage will see an increase in their income, potentially impacting their household budgets and purchasing power. The changes will take effect three months after the bill becomes law.
Key points
The federal minimum wage will increase to $15 per hour.
This change affects all employees covered by the federal minimum wage.
The law will become effective three months after its enactment.
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Additional Information
Print number: 118_HR_505
Sponsor: Rep. Cohen, Steve [D-TN-9]
Process start date: 2023-01-25