President Joe Biden will sign an executive order on Tuesday ordering an increase in the the hourly minimum wage for federal contractors to $15. According to the White House, all agencies will need to incorporate a $15 minimum wage in new contract solicitations starting on Jan. 30, 2022, and by March 30 next year, all agencies will need to implement the minimum wage into new contracts. Agencies must also implement the higher wage into existing contracts when the parties exercise their option to extend such contracts, which often occurs annually, the White House said. The minimum wage for workers performing work on covered federal contracts is currently $10.95 per hour, the White House said.

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