On April 27, President Biden signed an Executive Order raising the minimum wage for federal contractors to $15 an hour by March 2022. Currently, the federal contracting minimum wage is $10.95 (since 2015), and the regular statutory federal minimum wage is $7.25 (since 2009).
Federal agencies will incorporate these wages into their contract solicitations by Jan. 30, 2022, and implement them no later than March 30, 2022. These changes apply to existing and multiyear contractors when their contracts are annually renewed, so some workers will not see the change until later in 2022.