The Federal minimum wage is the least amount of money per hour that American businesses must pay their employees. States and communities are allowed to acquire higher minimum wages and many of them do.
But as of right now, $7.25 per hour is the minimum that U.S. employers must pay. That rate was updated in 2009 under then President Barack Obama. This week Democrats in Congress introduced a bill to increase the Federal minimum wage to $15 per hour. As it stands now, the proposal wouldn't do this immediately. It would include gradual wage increases until 2025 when it would hit the $15 minimum.
President Joe Biden has included this increase in his $1.9 trillion coronavirus relief plan. In case that package doesn't pass with the minimum wage change, Democrats had introduced a separate bill. The minimum wage is a controversial subject because experts and economists disagree over the effects it has.
Supporters of raising the wage say it will put more money in the pockets of workers, encouraging them to spend more and that this would help businesses and stimulate the economy. Opponents of raising the wage say it will do the opposite. That it would cause smaller businesses and restaurants to lay off workers because these organizations don't make enough in profits to afford the higher labor costs.

There's a political divide over this subject too. Democrats generally favor the minimum wage increase. Republicans generally oppose it. Democrats say it would help individuals who are struggling because of the coronavirus pandemic. Republicans say it would hurt businesses that are struggling because of the coronavirus pandemic and individuals too if their jobs are cut.
Part of the reason why Democrats are pushing for it now is because they have control over both chambers of Congress and the White House for the first time since 2010. And while Democratic leaders have said they'd like to increase the minimum wage with at least some Republican support, they may try to pass the legislation without it.
When he was vice-president during the Obama Administration, Joe Biden had the job of overseeing the government's $840 billion economic stimulus package which was passed in 2009 to help the nation recover from the Great Recession. When he was vice-president during the Trump Administration, Mike Pence had the job of overseeing the government's coronavirus task force which was established in 2020 to help the nation address the COVID-19 pandemic.
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