Wage Increase Fairness Act This bill prohibits any limitation on the amount of a minimum wage set pursuant to the Fair Labor Standards Act of 1938, or of one set by a state or municipality pursuant to such Act. Furthermore, no state or municipality shall adopt any law or ordinance which has the purpose or effect of establishing a minimum wage that distinguishes, classifies, or establishes any requirement on an employer based on its status as excluded from the definition of enterprise under such Act.