last month the Department of Labor took a long overdue step towards addressing income inequality by restoring and strengthening overtime protections for millions of Americans.
Zero. Is that right, Dr. Bernstein?
So that anybody making from about $23,000 could get a raise to over $23,000, everybody between 23 and 47 could get to 47...
And so if you have a full-time employee who has already worked 40 hours and a part-time hourly worker who has worked 20 ...
No, there would be no overtime because they would be exempt.
After 40 hours, if you work more, you are supposed to get more.
This new regulation will increase it to 33 percent.
As the gentleman from New York just indicated, in 1938,-- 1938-- Congress established 40 hours as a normal work week.
We have done all that because we think bailouts are bad. But I think we need to rethink what we mean by a bailout.
I think our guidance as proposed would rate projects that use cloud, use these more modern techniques.
I appreciate the support this committee has shown for this important topic.