Congressman Adam Smith (D-WA) released the following statement on the President’s proposal to increase the overtime threshold from $23,660 to $50,440:
I applaud the President for taking action to extend overtime pay protections. This proposal will allow 5 million American workers to take home the money they have earned. The overtime threshold has not been raised in decades, and in the meantime income inequality has increased and average workers have been feeling squeezed. Now, the bottom 90 percent of Americans own just 23 percent of total U.S. wealth.
We must be doing more to invest in the worker to build a strong middle class. I will continue to work and advocate for policies that respect workers and the dignity of work. This change by President Obama is a step in the right direction.