Bill > S3453

This bill, the Fair Minimum Wage Act of 2012, proposes to increase the federal minimum wage by amending the Fair Labor Standards Act of 1938 (FLSA), a law that establishes minimum wage, overtime pay, and other labor standards. The bill outlines a phased increase for the general minimum wage, starting at $8.10 per hour shortly after enactment, then rising to $8.95 after one year, and $9.80 after two years. Following these initial increases, the minimum wage will be adjusted annually based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, a measure of inflation, to ensure its value keeps pace with the cost of living. For tipped employees, the bill sets a minimum cash wage of $3.00 per hour for the first year, after which it will gradually increase until it reaches 70% of the general minimum wage, with subsequent annual adjustments to maintain that ratio. The Secretary of Labor is also directed to publish any upcoming minimum wage increases in the Federal Register and on the Department of Labor's website at least 60 days in advance.