Minimum wage increase

(a) In general Section 6(a)(1) of the Fair Labor Standards Act of 1938 is amended to read as follows: (1) except as otherwise provided in this section, not less than— (A) $10.25 an hour, beginning on the effective date described in section 2(c) the Labor Income Fairness and Transparency Act; (B) $13.75 an hour, beginning 12 months after such effective date; (C) $17.00 an hour, beginning 24 months after such effective date; and (D) the amount determined under subsection (h) for the 1-year period beginning 36 months after such effective date, and for each 1-year period thereafter;. (b) Minimum wage determination based on increases in the median hourly wage of all employees Section 6 of the Fair Labor Standards Act of 1938 is amended by adding at the end the following: (h) (1) Not later than 90 days prior to the date on which the minimum wage under subsection (a)(1)(D) shall take effect for a 1-year period, the Secretary shall determine the minimum wage for such 1-year period. Such minimum wage for such period shall be calculated by multiplying— (A) the minimum wage for the 1-year period preceding the covered 1-year period, by (B) the ratio obtained by dividing— (i) the median hourly wage of all employees for the covered 1-year period, by (ii) the median hourly wage of all employees for the 1-year period preceding the covered 1-year period. (2) (A) In this subsection, the term ‘median hourly wage’ means, when used with respect to a 1-year period, the median hourly wage for the most recent four-quarter period for which data are available that precedes such 1-year period. (B) In this subsection, the term covered 1-year period means the 1-year period for which the minimum wage is being determined under this subsection. (3) Not later than 90 days after the last day of each calendar quarter, the Secretary, through the Bureau of Labor Statistics, shall determine the median hourly wage of all employees for such calendar quarter. (4) The minimum wage for a covered 1-year period shall not be less than the minimum wage for the 1-year period preceding the covered 1-year period. (5) In setting the minimum wage for any covered 1-year period, such minimum wage shall be rounded up to the nearest multiple of $0.05 if the amount calculated under this subsection is not a multiple of $0.05.. (c) Effective date The amendments made by this section shall take effect on the date that is 1 year after the date of enactment of this Act.