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Cohen: New Overtime Pay Rule Will Help Memphis Workers

June 30, 2015

[MEMPHIS, TN] – Congressman Steve Cohen (TN-09) issued the following statement regarding President Obama’s newly-proposed rule that would help ensure 5 million lower-income and middle-class Americans receive fair compensation for their overtime hours.

“When this overtime rule was last updated—40 years ago—it covered 62% of the nation’s salaried employees,” said Congressman Cohen. “Today though, it covers just 8% and leaves millions of Americans at risk of being taken advantage of by their employer’s demands. It’s time we give middle-class workers a raise. President Obama’s proposal will help ensure that hardworking Memphians receive fair compensation for their overtime hours. It is a positive step to help our workers and keep the economy growing.”

President Obama’s new proposal would increase the salary beneath which employees receive overtime pay when they work more than 40 hours in a week from $23,660 to $50,440.