Barack Obama

“ We’ve got to build an economy that works for everybody, not just a fortunate few. We know from our history that our economy grows best from the middle out, when growth is more widely shared. So we’ve got to restore opportunity for all – the idea that with hard work and responsibility, you can get ahead.
Now, for more than 75 years, the 40-hour workweek and the overtime protections that come with it have helped countless workers climb the ladder of success. But today, an overtime exception originally meant for highly-paid employees now applies to workers who earn as little as $23,660 a year. ”

“ This week, I ordered a review of our nation’s overtime rules, to give more Americans the chance to earn the overtime pay they’ve worked for.
Here’s why this matters. Our businesses have created 8.7 million new jobs over the past four years. But in many ways, the trends that have battered the middle class for decades have grown even starker. While those at the top are doing better than ever, average wages have barely budged. Too many Americans are working harder than ever just to keep up. ”

“ So we’re going to update those overtime rules to restore that basic principle that if you have to work more, you should be able to earn more. And we’ll do it by consulting workers and businesses, and simplifying the system so it’s easier for everyone.
Americans have spent too long working more and getting less in return. So wherever and whenever I can make sure that our economy rewards hard work and responsibility, that’s what I’m going to do. ”