President Joe Biden is preparing to sign an executive order to increase the minimum wage to $15 an hour for federal contractors, according to a report from the Associated Press. Administration officials say it will provide a pay bump to hundreds of thousands of workers nationally. Although the raise will be rolled out gradually, the action could mean a dramatic 37% pay hike for workers who earn the current minimum of $10.95 an hour.
Federal contract workers to get $15 minimum wage
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