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Tag Archives: Congress
Overtime
The Right To Overtime Pay No Longer Exists For The Middle Class
Here’s a story we all know: Americans are working hard but earning less. But there’s a policy we don’t often talk about that has had a substantial effect on this trend: overtime pay. In 1975, more than 65 percent of salaried workers earned time-and-a-half pay for every hour worked over 40 hours per week. Today, just 11 percent do.
Overtime is still the law, but it has been allowed to erode for decades. Now, by definition, it no longer covers the middle class. Only workers earning less than $23,660 per year — below the poverty line for a family of four — qualify for mandatory overtime pay.
We would describe why that hurts middle class families and hurts the economy overall, but we think billionaire venture capitalist and champion for middle-out economic policies Nick Hanauer says it better in a new piece for Politico Magazine:
In the absence of a law requiring me to pay you overtime if you earn under a certain amount, you end up working harder—and the harder you work, the fewer employees I need. The fewer employees I need, the higher the unemployment rate. The higher the unemployment rate, the more leverage I have to “encourage” you to “do what it takes” to keep your job. And so you work even more hours, pushing unemployment up and wages down. And that, my friends, is one of the little tricks that keeps you poor and me rich.
There’s a solution to this problem — and it’s something that President Obama can do with or without help from Republicans in Congress. The President has the power to raise the income threshold for overtime on his own. If he restored federal overtime standards to where they were at their 1975 peak, that would cover workers earning up to $69,000. That comes out to 10.4 million more working Americans who would have more money in their pockets or more time to spend with friends and family.
BOTTOM LINE: Americans are working harder and longer to stretch their earnings just to keep up with the cost of living. Meanwhile, overtime pay has been allowed to erode to the point where it no longer covers anyone in the middle class. President Obama has the power to change that by strengthening overtime protections and giving the middle class and our economy a boost it needs and deserves.
This Month’s Jobs Numbers
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Sunday, July 06, 2014 | ||
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Pass the #AmericansJOBsACT
What every voter wanted but gave their power up to Republicans #MidTerm2014MatteredGetting America Working Again
I support the American Jobs Act
To create jobs, the President unveiled the American Jobs Act – nearly all of which is made up of ideas that have been supported by both Democrats and Republicans, and that Congress should pass right away to get the economy moving now.
The purpose of the American Jobs Act is simple: put more people back to work and put more money in the pockets of working Americans – without adding a dime to the deficit.
President Obama’s Speech to a Joint Session of Congress Read the full remarks »
Read more about how the jobs act affects veterans »
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Tax Cuts to Help America’s Small Businesses Hire and Grow: Read more »
The President is proposing immediate incentives for small businesses to hire and grow from now into 2012.
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Putting Workers Back on the Job While Rebuilding and Modernizing America: Read more »
The President is proposing investments that would prevent layoffs of as many as 280,000 teachers, provide opportunities for long-term unemployed veterans, and put Americans to work rebuilding roads, railways, bridges, and schools in need of repair.
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Pathways Back to Work for Americans Looking for Jobs: Read more »
Drawing on the best ideas of both parties and the most innovative states, the President is proposing the most sweeping reforms to the unemployment insurance system in 40 years to help those without jobs transition to the workplace.
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More Money in the Pockets of Every American Worker and Family: Read more »
The President’s plan will expand the payroll tax cut, cutting workers payroll taxes in half next year. This provision will provide a tax cut of $1,500 to the typical family earning $50,000 a year.
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Fully Paid For: Read more »
The American Jobs Act is fully paid for as part of the President’s long-term deficit reduction plan. The President’s detailed deficit reduction plan will pay for every penny of the American Jobs Act.
Open Enrollment Starts
In this week’s address, the President reminded Americans that Affordable Care Act open enrollment begins this weekend. In the past year more than 10 million people have gained health insurance, including more than seven million who enrolled in Health Insurance Marketplace coverage. They are proof that the Affordable Care Act is working, making health care more affordable, accessible, and of higher quality for millions of people. The President encouraged all Americans to take advantage of open enrollment, and remind their friends and families to do so as well.
Click here to watch this week’s Weekly Address.
Need health insurance? Go to HealthCare.gov right now.
The Week in Six Minutes: “The Future That We See”
This week, the President issued a statement on net neutrality, and convened both congressional leaders and his Cabinet to discuss the agenda in the years ahead. He also dove into an eight-day trip to China, Burma, and Australia to foster deeper relations with countries around the Pacific and open up markets and opportunities for businesses here at home.
President Obama Wraps Up His Visit to China
This week, the President is traveling to Asia and Australia to highlight our country’s trade and investment ties to the region, and its critical role in our future economic growth and generating American jobs.
President Obama’s first stop was Beijing, China, where he attended the 2014 APEC Leaders’ Summit, met with leaders of countries in the Trans-Pacific Partnership (TPP), and made historic progress on climate change with Chinese President Xi Jinping.
The Internet has unlocked possibilities that we could just barely imagine a generation ago. A big reason why we’ve seen such incredible growth and innovation is “net neutrality” — the principle that says Internet service providers (ISPs) should treat all Internet traffic equally.
That’s why President Obama asked the Federal Communications Commission (FCC) to implement the strongest possible rules to protect net neutrality. The President’s plan would reclassify consumer broadband services under what’s known as Title II of the Telecommunications Act, and would work to “ensure the network works for everyone — not just one or two companies.”










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