Is there a difference between federal prevailing wage and state prevailing wage?

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Yes.
Federal Prevailing Wage:
Federal Prevailing Wage (Davis-Bacon) is defined in 29 CFR 1.1.2 as the wage paid to the majority (more than 50 percent) of the laborers or mechanics in the classification on similar projects in the area during the period in question. If the same wage is not paid to a majority of those employed in the classification, the prevailing wage shall be the average of the wages paid, weighted by the total employed in the classification.
The Davis Bacon and Related Acts (DBRA) requires all contractors and subcontractors performing work on federal or District of Columbia construction contracts or federally assisted contracts in excess of $2,000 to pay their laborers and mechanics not less than the prevailing wage rates and fringe benefits for corresponding classes of laborers and mechanics employed on similar projects in the area. The prevailing wage rates and fringe benefits are determined by the Secretary of Labor for inclusion in covered contracts.
State Prevailing Wage:
Currently there are thirty two states that have their own prevailing wage and hour laws. Some state laws set a dollar threshold above which the prevailing wages laws apply; others do not set a threshold. State prevailing wage laws are sometimes referred to as "Little Davis-Bacon" Acts.
Federal/State Funded Projects:
Both federal and state prevailing wage laws can apply to a particular project if the project is funded by both state and federal funding sources and the particular state has their own prevailing wage and hour law. In some states, like Washington State and Oregon, when both federal and state prevailing wage laws apply the higher of the two wage rates must be paid. Funding can be in the form of direct funding, grants, loans etc.
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