Pres. Biden To Raise Minimum Wage For Federal Contractors

The video discusses a policy to raise the minimum wage for employees to $15 an hour by January 30th next year, up from the current baseline of just under $11. The president's attempt to increase the federal minimum wage through a COVID relief bill was unsuccessful. However, the White House believes that increasing wages for contract workers will lead to higher wages for non-government employees due to labor market competition.

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