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The American Stability Act amends the Fair Labor Standards Act to raise the federal minimum wage to $15 per hour in the first year after enactment, then tie future increases to the greater of average hourly earnings growth or inflation (cost-of-living), with increases capped at 10 percent annually during a transition period. The bill eliminates the separate minimum wage for workers under 20, requires tipped employees receive the full minimum wage, phases out the special minimum wage certificate program for workers with disabilities, and modifies federal income tax brackets and rates based on the new minimum wage levels.
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