Federal minimum wage increase?

The Raise the Wage Act of 2021 (H.R. 603) would increase the federal minimum wage to $15 per hour in stages to 2025, the first increase in 12 years. The measure would also eliminate the separate minimum wage requirements for tipped, newly hired, and disabled employees. At present, 20 states have minimum wages below the current federal level of $7.25 per hour. The impact on small businesses likely will vary by industry. Now, many are already paying the $15 rate as a way to get employees in this tight labor market. Note: The higher rate already applies to certain federal contractors, starting January 30, 2022. #IdeaoftheDay