Many federal contractors would have to pay workers at least $15 an hour by 2022 under a proposed rule from the U.S. Department of Labor (DOL) that would implement and enforce a recent executive order.

In April, President Joe Biden signed Executive Order 14026, which aims to promote "economy and efficiency in federal procurement by increasing the hourly minimum wage paid by the parties that contract with the federal government to $15.00 for those workers working on or in connection with a federal government contract," according to the White House. READ MORE