Which act requires payment of prevailing wage rates and fringe benefits on federally financed or federally assisted construction?

The Davis-Bacon Act is the legislation that mandates the payment of prevailing wage rates and fringe benefits to workers on federally financed or federally assisted construction projects. Introduced in 1931, this Act was established to ensure fair wages on public works projects and aims to protect workers from wage depression by ensuring they receive competitive pay that reflects the local economy's standards.

One of the key features of the Davis-Bacon Act is that it requires contractors and subcontractors to pay no less than the locally prevailing wages and fringe benefits for similar projects in the area. This serves to create a level playing field for contractors, ensuring that those who might try to undercut wages to win contracts are unable to do so without violating federal law.

The other acts listed do not pertain specifically to federally financed construction projects. For instance, the Fair Labor Standards Act primarily deals with minimum wage, overtime compensation, and child labor, but it does not specifically address construction wages. The Walsh-Healy Contracts Act applies to government contracts for manufacturing and supply but not explicitly to construction. Similarly, the Service Contract Act regulates service contracts and the wages associated with them, but it doesn’t include construction-related wage requirements.

Thus, the Davis-Bacon Act is uniquely suited to the question, focusing specifically