The Department of Labor (DOL) published a Final Rule implementing Executive Order 14026 “Increasing the Minimum Wage for Federal Contractors.” The Final Rule raises the hourly minimum wage to $15 per hour for workers performing work on or in connection with a covered federal contract beginning January 30, 2022. The Final Rule also increases the hourly minimum wage to $10.50 per hour for employees who regularly receive tips beginning January 30, 2022, and eliminates contractors’ ability to take tip credit effective January 30, 2024.