Wages Adjustment Act

Summary

Wages Adjustment Act - Requires all employers engaged in interstate commerce and subject to the tax on employers for old-age, survivors, and disability insurance or hospital benefits under the Internal Revenue Code to annually increase the salaries of their employees in line with changes in the price index from the base year of 1973. Allows a passthrough of such salary costs by employers in their prices. Requires an annual increase in the minimum wage to reflect such price index change.

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Timeline

1. 7 June 1974

   Introduced

   Referred to Senate Committee on Banking, Housing and Urban Affairs.

   Source: IntroReferral

2. 7 June 1974

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 7 June 1974

  Open at official source

Sponsors

• Sen. Mansfield, Mike [D-MT] · D · Sponsor
• · sshr00 · Standing
• · ssbk00 · Standing

Related records

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