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Patriotic Millionaires Applaud Biden Executive Order to Raise the Minimum Wage for Federal Contract Workers to $15 an Hour

"We look forward to continuing to work with the Biden administration as it fights to pass a $15 federal minimum wage through the US Senate, using every means necessary."

WASHINGTON - Today, President Biden is issuing an executive order requiring federal contractors to pay a $15 minimum wage to all of their employees by 2022, up from the current required minimum of $10.95 per hour. In response to this order, which will also continue to index the wage to inflation and would, critically, eliminate the tipped minimum wage for federal contract workers, Morris Pearl, former managing director at Blackrock, Inc., Chair of the Patriotic Millionaires, and co-author of Tax the Rich!, issued the following statement:

"Today's executive order is an important step in the right direction, but it's nowhere near enough. The Biden administration should be commended for ensuring hundreds of thousands of contract workers will finally earn a liveable wage, but it cannot rest while there are tens of millions of Americans who are not earning enough to be a part of our economy or our society. A national $15 minimum wage must remain a top legislative priority for the Biden administration and Congressional Democrats. We look forward to continuing to work with the Biden administration as it fights to pass a $15 federal minimum wage through the US Senate, using every means necessary."

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Proud “traitors to their class,” members of the Patriotic Millionaires are high-net worth Americans, business leaders, and investors who are united in their concern about the destabilizing concentration of wealth and power in America. The mission of The Patriotic Millionaires organization is to build a more stable, prosperous, and inclusive nation by promoting public policies based on the “first principles” of equal political representation, a guaranteed living wage for all working citizens, and a fair tax system.

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