US President Joe Biden signs decree on minimum wage increase

US President Joe Biden signs decree on minimum wage increase

White HouseIn the statement made by Biden, it was stated that the decree signed by Biden will encourage the economy and efficiency, and will provide value for taxpayers as a result of increasing the productivity of workers and producing higher quality jobs.

In the statement, it was noted that the minimum hourly wage, which is currently $ 10.95, will be increased to $ 15 for workers working in federal agencies.

Stating that all federal institutions will have to include the new minimum wage rate in their contracts starting from January 30, 2022, it was emphasized that all institutions should apply this rate in new contracts until March 30, 2022.

In the statement, it was stated that the minimum wage will continue to be indexed to inflation, so that the wage will be adjusted automatically to reflect changes in the cost of living.

Biden wanted to include the regulation to increase the minimum hourly wage to $ 15 in the $ 1.9 trillion economic support package approved in March to mitigate the economic effects of the new type of corona virus (Covid-19) epidemic, on the grounds that some Democrats as well as Republicans “will increase unemployment”. The regulation, which he opposed, was not included in the support package after it was decided that it was not in line with the budget rules.

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