The Raise the Wage Act of 2023 would increase the federal minimum wage from the current $7.25 per hour to $9.50 per hour immediately upon enactment, with scheduled increases reaching $15.50 per hour after four years and $17.00 per hour after five years. After the sixth year, the minimum wage would automatically adjust annually based on increases in the median hourly wage of all workers. The bill also phases in a higher minimum wage for tipped employees, starting at $6.00 per hour and eventually reaching the full federal minimum wage, while eliminating the current subminimum wage for newly hired workers under 20 years old. Additionally, the legislation gradually increases the minimum wage for workers with disabilities covered under special certificates, rising from $5.00 to eventually match the regular minimum wage within five years, and prohibits employers from obtaining new special certificates after the bill's enactment. The bill would become effective approximately three months after Congress passes it.
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