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Monday night, President Obama announced details about a proposed plan to increase the number of American employees who receive overtime pay in 2016.
Currently, the only way U.S. salaried employees are guaranteed time and a half after working 40 hours a week is if they earn less than $23,660 a year. Under Obama’s newly outlined plan, nearly 5 million more workers will be eligible for overtime pay with the Department of Labor proposing this week to extend overtime protection to salaried workers who earn up to $50,440 a year.
“That’s good for workers who want fair pay, and it’s good for business owners who are already paying their employees what they deserve — since those who are doing right by their employees are undercut by competitors who aren’t,” said Obama in a blog piece for the Huffington Post.
Obama, who will head to Wisconsin this week to discuss his proposed plan, added that his top priority is to strengthen the middle class, expand opportunity and grow the economy.
“In this country, a hard day’s work deserves a fair day’s pay,” wrote Obama. “That’s at the heart of what it means to be middle class in America.”