This bill amends the Fair Labor Standards Act of 1938 to significantly increase the federal minimum wage. It establishes an initial minimum wage of $15 per hour , which will take effect on January 1 of the first year after the bill's enactment. Following this initial increase, the minimum wage will be subject to annual adjustments beginning on January 1 of the second year after enactment. These subsequent increases will be determined by the Secretary of Labor based on the percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) . This indexing mechanism aims to ensure that the minimum wage keeps pace with inflation, providing higher wages for American workers.