Indeed, Trump has taken the lead in reducing workers’ incomes. One of his key actions along these lines occurred on March 14, 2025, when he issued an executive order that scrapped a Biden-era regulation raising the minimum wage for employees of private companies with federal contracts. Some 327,300 workers had benefited from Biden’s measure, which produced an average wage increase of $5,228 per year. With Trump’s reversal of policy, they became ripe for pay cuts of up to 25 percent.