President Obama Signs Executive Order Requiring $10.10 Minimum Wage for Federal ContractsOn February 12, 2014, President Obama signed an Executive Order raising the minimum hourly wage rate paid on certain federal contracts to $10.10, beginning January 1, 2015. Further, the Executive Order raises the minimum hourly wage for tipped workers on certain federal contracts to $4.90, beginning January 1, 2015. The Secretary of Labor is directed to issue regulations by October 1, 2014 that implement these new provisions and incorporate existing definitions, procedures, remedies and enforcement processes of the Fair Labor Standards Act (“FLSA”), the Service Contract Act (“SCA”) and the Davis-Bacon Act (“DBA”). The full text of the Executive Order is available here. Please stay tuned for additional developments on the Executive Order and the implementing regulations. |
||
|