Washington, D.C. — Center for American Progress President Neera Tanden issued the following statement in reaction to the announcement that President Barack Obama will issue an executive order to expand the number of people who qualify for overtime pay under federal labor law:
With his executive action to extend overtime protections, President Obama is not only ensuring fair compensation for workers, but he is also taking an important step to help the economy and taxpayers. Ensuring workers get the pay they deserve will put more money in the pockets of hardworking Americans which will boost consumer demand and strengthen our economy. Taxpayers will also benefit because federal spending on safety net programs, such as food stamps, will likely decrease. Reforming outdated overtime rules shows strong leadership from the president to ensure that hard work leads to economic security and an opportunity to get ahead.