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Archived News Release--Caution:
information may be out of date.
For more information call: (202) 693-4650
Our economy is changing at warp speed. To compete in the
new global economy, how we work is changing every day -- and how workers and
their families can benefit from that work is changing as well.
In today's tight labor market, many employers find that
using stock options is an important tool to attract and retain good workers.
We applaud that kind of innovation, and we have found that
in some cases, in order to keep up with the changes in the workplace, the laws
we enforce must change.
But it is critically important, as we adapt to the needs of
the 21st century workplace, that we bring the values of the 20th century -- the
important protections for American workers that have made this nation so great
-- with us into this new global economy.
The Fair Labor Standards Act has been and remains one of
our nation's most important worker protection laws -- guaranteeing workers a
minimum wage and the overtime pay they deserve when they work more than 40
hours a week. Changing this important law without weakening its vital
protections was a difficult task.
Today's proposal is an excellent model of how the executive
branch can work with members of Congress on behalf of workers and employers, to
support the kind of innovation that we must have to keep our economy booming
and still maintain our important values.
I applaud the hard work and good will of our committee
chairman, Sen. Jeffords, and Sen. Dodd, Sen. McConnell and Sen. Enzi for their
leadership and their fast, bipartisan action in crafting a narrow, targeted
amendment to the Fair Labor Standards Act, which I will urge the president to
sign as soon as it is passed.
Archived News Release--Caution:
information may be out of date.
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