Commentary: Congressional Progressive Caucus (CPC) Co-Chairs Reps. Raúl M. Grijalva (D-AZ) and Keith Ellison (D-MN) released the following statement after Department of Labor (DOL) Secretary Thomas Perez and President Obama announced the publication of the final rule to raise the overtime threshold to $47,476. The previous threshold was $23,660. According to DOL, the new rule makes 4.2 million more American workers eligible for overtime pay. The Economic Policy Institute estimates it could directly benefit up to 12.5 million workers.
“People all over the country are working longer hours, but their paychecks continue to come up short. The Congressional Progressive Caucus believes that in the richest nation on earth, no one working overtime should worry about making ends meet. This new overtime rule is an important step towards that goal, helping more than 4.2 million Americans feed their families, pay their rent, and clothe their children. We applaud President Obama for standing with American families who deserve fair pay for their hard work.”
In January 2015, the Congressional Progressive Caucus Co-Chairs signed a letter led by CPC Vice Chair Takano to President Obama asking for an increase in the overtime threshold. The CPC hosted meetings with the Department of Labor and economists on the issue. The CPC also called for an increase in the overtime threshold in its Fiscal Year 2016 Alternative Budget.