Working Americans Growing the Economy (WAGE) Act of 2007 - Amends the Fair Labor Standards Act of 1938 to increase the federal minimum wage to: (1) $5.85 an hour, beginning on the 60th day after enactment of this Act; (2) $6.55 an hour, beginning 12 months after that 60th day; and (3) $7.25 an hour, beginning 24 months after that 60th day.
States that, if an employer provides an employee with health care or child care benefits of at least $2,500 per year, the applicable minimum wage rate paid to such employee shall be: (1) $5.15 an hour, beginning on the 60th day after enactment of this Act; (2) $5.55 an hour, beginning 12 months after that 60th day; and (3) $6.25 an hour, beginning 24 months after that 60th day.
Requires the Secretary of Labor to: (1) define the categories of health care benefits and child care benefits which qualify an employer to pay the latter rates; and (2) establish a method for determining the value of such benefits.