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 purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. MINIMUM WAGE INCREASE FOR EMPLOYERS 

4 WITH HIGH ANNUAL REVENUES. 

5 Section 6 of the Fair Labor Standards Act of 1938 

6 (29 U.S.C. 206) is amended by adding at the end the fol7 lowing: 


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1 ‘‘(h) EMPLOYERS WITH HIGH ANNUAL REVE2 NUES.— 

3 ‘‘(1) IN GENERAL.—Except as described in 

4 paragraph (3), for purposes of this Act, in the case 

5 of an employer described in paragraph (2), the min6 imum wage rate provided for in, prescribed in, and 

7 in effect under subsection (a)(1) with respect to the 

8 employees of such employer shall be— 

9 ‘‘(A) $9.50 an hour, beginning on the first 

10 day of the third month that begins after the 

11 date of enactment of this subsection; 

12 ‘‘(B) $11.00 an hour, beginning 1 year 

13 after such first day; 

14 ‘‘(C) $12.50 an hour, beginning 2 years 

15 after such first day; 

16 ‘‘(D) $14.00 an hour, beginning 3 years 

17 after such first day; 

18 ‘‘(E) $15.00 an hour, beginning 4 years 

19 after such first day; and 

20 ‘‘(F) beginning on the date that is 5 years 

21 after such first day, and annually thereafter, 

22 the amount determined by the Secretary under 

23 paragraph (4). 


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1 ‘‘(2) EMPLOYER.—An employer described in 

2 this paragraph is an employer with an annual rev3 enue that is not less than $1,000,000,000. 

4 ‘‘(3) TIPPED EMPLOYEES.—Paragraph (1) shall 

5 not apply with respect to determining the wage an 

6 employer described in paragraph (2) is required to 

7 pay a tipped employee under section 3(m)(2). 

8 ‘‘(4) DETERMINATION BASED ON INCREASE IN

9 THE MEDIAN HOURLY WAGE OF ALL EMPLOYEES.— 

10 ‘‘(A) IN GENERAL.—Not later than each 

11 date that is 90 days before a new minimum 

12 wage determined under paragraph (1)(F) is to 

13 take effect, the Secretary shall determine the 

14 minimum wage to be in effect under this para15 graph for each period described in paragraph 

16 (1)(F). The wage determined under this para17 graph for a year shall be— 

18 ‘‘(i) not less than the amount in effect 

19 under paragraph (1) on the date of such 

20 determination; 

21 ‘‘(ii) increased from such amount by 

22 the annual percentage increase, if any, in 

23 the median hourly wage of all employees as 

24 determined by the Bureau of Labor Statis25 tics; and 


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1 ‘‘(iii) rounded up to the nearest mul2 tiple of $0.05. 

3 ‘‘(B) CALCULATING ANNUAL PERCENTAGE

4 INCREASE.—In calculating the annual percent5 age increase in the median hourly wage of all 

6 employees for purposes of subparagraph (A)(ii), 

7 the Secretary, through the Bureau of Labor 

8 Statistics, shall compile data on the hourly 

9 wages of all employees to determine such a me10 dian hourly wage and compare such median 

11 hourly wage for the most recent year for which 

12 data are available with the median hourly wage 

13 determined for the preceding year.’’. 

14 SEC. 2. EFFECTIVE DATE. 

15 The amendments made by section 1 shall take effect 

16 on the first day of the third month that begins after the 

17 date of enactment of this Act. 

Æ 


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