The Fair Minimum Wage Act of 2007 amended the Fair Labor Standards Act to incrementally raise the federal minimum wage from $5.15 in 2007 to $7.25 in 2009. The Federal minimum wage remains at $7.25 as of 2021. However, there have been multiple proposals to increase the minimum wage since such as the Federal Minimum Wage Act of 2021 which would increase the minimum wage to $15.00 by 2025.
[Last updated in June of 2021 by the Wex Definitions Team]