What regulatory act requires contractors to pay workers at least the prevailing wage?

The Davis-Bacon Act is the regulatory act that specifically requires contractors working on federally funded projects to pay their laborers and mechanics at least the prevailing wage for similar work in the local area. This act was enacted to ensure that workers are compensated fairly, reflecting local market rates, and to prevent federal funds from being used to subvert local wage standards.

The act applies to contracts for the construction, alteration, or repair of public buildings or public works, and it mandates that contractors submit payroll records to demonstrate compliance with the wage requirements. The prevailing wage is determined by the U.S. Department of Labor and is based on surveys of wages paid in the area for similar work.

In contrast, the other options address different aspects of labor and employment laws: the Fair Labor Standards Act establishes minimum wage and overtime pay eligibility, the Walsh-Healey Public Contracts Act applies to certain government contracts and also mandates wage standards but in a more limited context, and the Occupational Safety and Health Act focuses on workplace safety and health standards rather than wage issues. Thus, the unique focus of the Davis-Bacon Act on prevailing wages for federally funded projects makes it the correct answer.