We are delighted that the Department of Labor has transmitted a proposal for a revised overtime threshold to the Office of Management and Budget for review. This is an important step in the rule-making process, signaling that a formal proposal is only a matter of weeks away. An update of the overtime rules is long overdue. The current rules let companies treat workers as exempt executives, even if they earn barely a poverty income. They can be made to work long hours—even 60-70 hours a week—without ever earning a dime of overtime pay. A strong rule, one which raises the overtime threshold to at least $51,000 a year, could benefit 5-10 million workers. It would provide a better work-family balance for millions of workers, giving some higher pay for working overtime, and others reduced hours without any reduction in pay.