On Thursday, President Obama rolled out his plan for strengthening overtime pay protections for millions of workers. In his view, if more workers got fatter paychecks, they could spend more and stimulate the economy.
But if his critics are right, then employers would end up laying off workers to make up for the higher wage costs. And that would hurt the already painfully slow recovery.
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Stanley Fischer used to be head Israel's Central Bank, and he was once second in command at the International Monetary Fund. Barring the unexpected, he'll soon be confirmed as vice-chair of the U.S. Federal Reserve. President Obama nominated him for that post. And today he'll go before the Senate Banking Committee.
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Today, President Obama will tell the Department of Labor to rethink the rules for how employers pay overtime. The president wants millions more people to get paid overtime, particularly those who are exempt. And by signing a presidential memo to the department, he doesn't have to ask Congress to make that happen.
NPR White House correspondent Tamara Keith reports.
A bill aimed at punishing Russia for sending its forces into Crimea by imposing sanctions on Moscow and providing economic aid to Ukraine has passed a key vote in the U.S. Senate.
The Senate Foreign Relations Committee voted 14-3 to pass the measure that authorizes $1 billion in loan guarantees to the new government in Kiev as well as the freezing certain Russian assets in the U.S.
Aid for Ukraine, sanctions against Russians. Those are key features of a bill that Senator Robert Menendez proposes. He is a New Jersey Democrat who chairs the Senate Foreign Relations Committee. And he joins us from Capitol Hill. Welcome to the program once again.
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And I'm Melissa Block. President Obama is taking another step to raise the wages of workers and he plans to do it without getting Congress involved. The White House says tomorrow Obama will direct the Labor Department to change the rules for businesses on overtime pay. The change could mean that millions of private sector workers currently classified as management could eventually qualify for overtime.