Drafting regulation for minimum wage of $15 for employees working on or in connection with a covered federal government contract
The Department of Labor (DOT) is planning to introduce several changes to regulations around wages and benefits that workers get.
In response to Executive Order 14026 or “Increasing the Minimum Wage for Federal Contractors,” the department’s Wage and Hour Division is drafting regulations that will increase the hourly minimum wage rate paid by parties that contract with the federal government to $15 for those employees working on or in connection with a covered federal government contract.
The division is also engaged in rulemaking to address the economic security of tipped workers.
It is also proposing to update and modernize the regulations implementing the Davis-Bacon Related Acts to ensure workers are truly paid prevailing wages on federal construction contracts.
Lastly, the Employee Benefits Security Administration is undertaking a review of regulations under Title I of the Employee Retirement Income Security Act, including “Financial Factors in Selecting Plan Investments” and “Fiduciary Duties Regarding Proxy Voting and Shareholder Rights.”
This is to implement Executive Order 13990 or “Protecting Public Health and the Environment and Restoring Science to Tackle the Climate Crisis” and Executive Order 14030 or “Climate-Related Financial Risks”.
The department is also proposing withdrawals of prior rules that have “deleterious effects on the lives of working people, including a rule on labor standards in apprenticeship.”
“The department’s portions of the agenda published today include actions to implement the Biden-Harris Administration’s priorities in the areas of economic relief, wages, climate change and racial equity,” said the DOT in a news release.
