Fair Labor Standards Amendments

[AI summary unavailable — showing source text] Fair Labor Standards Amendments - Increases the minimum wage rate under the Fair Labor Standards Act to $3.00 per hour until December 31, 1976. Provides for an automatic increase in such wage rate based on increases in the price index. Requires an overtime rate equal to two and one-half times the regular wage rate under the Fair Labor Standards Act. Reduces the credit against the minium wage which is based on tips received by tipped employees. Repeals such credit one year after the effective date of this Act.…