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S. 555: 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.

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About the bill

Is the bill an effective compromise between maintaining the $7.25 minimum wage and increasing it too much, too fast?


Most Democrats advocate raising the federal minimum wage from $7.25 to $15 over several years. The Raise the Wage Act, has 197 House Democratic cosponsors and 37 Senate Democratic cosponsors. President Joe Biden also supports it, although passage isn’t guaranteed because a few Senate Democrats remain hesitant.

One of the most frequent arguments against such a move is that a minimum wage would hurt small business owners the hardest. Sure, the country’s most deep-pocketed corporations could afford to raise their employees’ wages, but what about mom-and-pop stores that are already struggling to make ends meet?

Some have proposed compromises. GovTrack Insider previously covered the Paying Hourly Americans …

Sponsor and status

Joshua “Josh” Hawley

Sponsor. Junior Senator for Missouri. Republican.

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Last Updated: Mar 3, 2021
Length: 4 pages
Mar 3, 2021
117th Congress (2021–2023)

Introduced on Mar 3, 2021

This bill is in the first stage of the legislative process. It was introduced into Congress on March 3, 2021. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.

Other activity may have occurred on another bill with identical or similar provisions.

4% chance of being enacted according to Skopos Labs (details)


Mar 3, 2021

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

If this bill has further action, the following steps may occur next:
Passed Committee

Passed Senate

Passed House

Signed by the President

S. 555 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number S. 555. This is the one from the 117th Congress.

How to cite this information.

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“S. 555 — 117th Congress: A bill to amend the Fair Labor Standards Act of 1938 to increase the Federal ….” 2021. August 8, 2022 <>

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