New Minimum Wage Requirements for Government Contractors May Impact Price Adjustments

PilieroMazza – Effective January 1, 2021, the Executive Order (the Order) minimum wage rate that generally must be paid to workers performing work on or in connection with covered government contracts will increase to $10.95 per hour, while the required minimum cash wage that generally must be paid to tipped employees performing work on or in connection with covered contracts will increase to $7.65 per hour.