Rep. Rick Larsen, WA-02, today applauded President Obama’s action to raise overtime pay for millions of workers. The President’s proposed rule would raise the cap on overtime pay salary eligibility from $23,660 to $50,440, affecting nearly 5 million salaried workers.

“Even as our economy is growing and creating jobs, not everyone is sharing in the benefits. The vast majority of income increases in the last few years have gone to top earners, while low- and middle-class workers’ wages have stagnated. Pay for the time workers put in beyond the 40-hour work week has not kept up with families’ living costs.

“Giving workers a raise by compensating them more fairly for their overtime helps the economy work better for everyone. Raising overtime pay will give hardworking families a bigger step up into a secure future,” Larsen said.

The proposed rule would set overtime pay eligibility to the 40th percentile of weekly earnings for full-time workers.

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