The "Give America a Raise Act" aims to increase the federal minimum wage over several years, ensuring that workers earn a living wage that keeps pace with inflation and economic growth. The legislation outlines a series of scheduled increases to the federal minimum wage, starting at 0.00 per hour, rising to 3.00 after one year, 6.50 after two years, and reaching $20.00 after three years. Following this period, the minimum wage will be adjusted annually based on inflation or economic growth, whichever is higher.