The bill would establish a Federal minimum wage based on 40 percent of the national average hourly wage for private-sector nonsupervisory workers, adjusted by regional price parity, rising to 45 percent after one year and 50 percent after two years, with later three-year updates. It would set the tipped cash wage at 30 percent of the applicable regional wage, revise the youth wage rules for employees age 18 or younger, and make the amendments effective on the first day of the third month after enactment.

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