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II
117TH CONGRESS
1ST SESSION
S. 555
To amend the Fair Labor Standards Act of 1938 to increase the Federal
minimum wage for employers with at least $1,000,000,000 in annual
revenue, and for other purposes.
IN THE SENATE OF THE UNITED STATES
MARCH 3, 2021
Mr. HAWLEY introduced the following bill; which was read twice and referred
to the Committee on Health, Education, Labor, and Pensions
A BILL
To amend the Fair Labor Standards Act of 1938 to increase
the Federal minimum wage for employers with at least
$1,000,000,000 in annual revenue, and for other pur-
poses.
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
2
SECTION 1. MINIMUM WAGE INCREASE FOR EMPLOYERS
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WITH HIGH ANNUAL REVENUES.
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Section 6 of the Fair Labor Standards Act of 1938
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(29 U.S.C. 206) is amended by adding at the end the fol-
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lowing:
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•S 555 IS
‘‘(h) EMPLOYERS
WITH
HIGH
ANNUAL
REVE-
1
NUES.—
2
‘‘(1) IN
GENERAL.—Except as described in
3
paragraph (3), for purposes of this Act, in the case
4
of an employer described in paragraph (2), the min-
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imum wage rate provided for in, prescribed in, and
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in effect under subsection (a)(1) with respect to the
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employees of such employer shall be—
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‘‘(A) $9.50 an hour, beginning on the first
9
day of the third month that begins after the
10
date of enactment of this subsection;
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‘‘(B) $11.00 an hour, beginning 1 year
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after such first day;
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‘‘(C) $12.50 an hour, beginning 2 years
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after such first day;
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‘‘(D) $14.00 an hour, beginning 3 years
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after such first day;
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‘‘(E) $15.00 an hour, beginning 4 years
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after such first day; and
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‘‘(F) beginning on the date that is 5 years
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after such first day, and annually thereafter,
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the amount determined by the Secretary under
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paragraph (4).
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•S 555 IS
‘‘(2) EMPLOYER.—An employer described in
1
this paragraph is an employer with an annual rev-
2
enue that is not less than $1,000,000,000.
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‘‘(3) TIPPED EMPLOYEES.—Paragraph (1) shall
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not apply with respect to determining the wage an
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employer described in paragraph (2) is required to
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pay a tipped employee under section 3(m)(2).
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‘‘(4) DETERMINATION BASED ON INCREASE IN
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THE MEDIAN HOURLY WAGE OF ALL EMPLOYEES.—
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‘‘(A) IN GENERAL.—Not later than each
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date that is 90 days before a new minimum
11
wage determined under paragraph (1)(F) is to
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take effect, the Secretary shall determine the
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minimum wage to be in effect under this para-
14
graph for each period described in paragraph
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(1)(F). The wage determined under this para-
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graph for a year shall be—
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‘‘(i) not less than the amount in effect
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under paragraph (1) on the date of such
19
determination;
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‘‘(ii) increased from such amount by
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the annual percentage increase, if any, in
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the median hourly wage of all employees as
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determined by the Bureau of Labor Statis-
24
tics; and
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‘‘(iii) rounded up to the nearest mul-
1
tiple of $0.05.
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‘‘(B) CALCULATING ANNUAL PERCENTAGE
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INCREASE.—In calculating the annual percent-
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age increase in the median hourly wage of all
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employees for purposes of subparagraph (A)(ii),
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the Secretary, through the Bureau of Labor
7
Statistics, shall compile data on the hourly
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wages of all employees to determine such a me-
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dian hourly wage and compare such median
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hourly wage for the most recent year for which
11
data are available with the median hourly wage
12
determined for the preceding year.’’.
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SEC. 2. EFFECTIVE DATE.
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The amendments made by section 1 shall take effect
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on the first day of the third month that begins after the
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date of enactment of this Act.
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Æ
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