Abouts and our god dam bodies. [ applause ] this committee on the work force will come to order. Welcome to todays hearing. The committees honored to welcome our distinguished guests, secretary alexander acosta. Secretary acosta has been at the helm of the department of labor since april and were grateful he could join us to testify for the First Time Since his conformation. Mr. Secretary, welcome to the committee. We look forward to your testimony which we are sorry did not arrive earlier. And discussing the department of labors policies and priorities under the new administration. The department of labors on the front line of the issues facing workers and job creators and it sets policies that have a widespread impact on our nations economy, Retirement Security and more. Where had they relate to health care, retirement planning, or employee wages and benefits, its the responsibility of this committee to insure these policies are in the best interest of workers, employers and taxpayer
This committee on the work force will come to order. Welcome to todays hearing. The committees honored to welcome our distinguished guests, secretary alexander acosta. Secretary acosta has been at the helm of the department of labor since april and were grateful he could join us to testify for the First Time Since his conformation. Mr. Secretary, welcome to the committee. We look forward to your testimony which we are sorry did not arrive earlier. And discussing the department of labors policies and priorities under the new administration. The department of labors on the front line of the issues facing workers and job creators and it sets policies that have a widespread impact on our nations economy, Retirement Security and more. Where had they relate to health care, retirement planning, or employee wages and benefits, its the responsibility of this committee to insure these policies are in the best interest of workers, employers and taxpayers. Ive said it before but ill say it again n
Does the Administration Support the threshold set by the Obama Administration and supported by worker advocates, or does it support the business communitys position . Congressman, thank you for the question, and let me note at the outset, when we talk about the overtime rule, we tend to talk about it in the context of salary thresholds, but if you look at the law passed by this congress, this congress did not say whether or not you are exempt or not exempt, whether or not youre subject to overtime or not is set by a salary level. But it set a very different test. And so, the salary level is, in essence, a shorthand way of getting to the law. Now, a federal court looked at this, and the federal court said that the way the 47,000 was set and that level was not in accordance with the law. And so, its not simply do we support and you chose not to contest or appeal that decision. And you do believe that you have the authority to set the salary threshold, is that correct . And so, i was sayi
Were lockstep with europe this is a very big change. You pointed that out a number of times the tenyear note yield creeping up a little bit from the lows we saw last week. Maybe helping firm up the financials just a bit. You see crude there. We just heard, of course, from the treasury secretary of the United States, steven mnuchin. As they wrap up squawk box. Tax reform, its got to be the most significant item on the agenda you know, he seemed to echo comments he made in the past about 15 being a target but not hard and fast. He did say some things in terms of pass throughs when pressed by andrew how are you really going to be able to prevent people from becoming llc and therefore benefitting from the potentially lower tax rate than they would as individuals he said, Service Companies would be one example that were not going to allow im not sure we heard that before in terms of specifics when it comes to how theyre going to sort of thread that, very importantly if everybody becomes a p
Bruce willis was in town on. Kay. Making a movie. You know who else is in towny asked our producers including megan in the control room, who is one of the best in the business, can you get me bruce willis. She said i promise to bring in a Willis Family member. Okay. She came up with rumor. Yes. Shes on empire. Well, yeah, her mom, demi is on empire. Demi. And now, rumor will be on empire. That is the rumor. Which is on wednesday at 8 00 oclock. So bruce willis, rumor did you hear Mark Zuckerberg is in philadelphia. What did he do. He went to pats. Yeah. Pat steaks. Yes. He is in town because he is going to delaware for a court hearingy dont know if it has anything to do with the emails or advertising. All of the Big Companies are incorporated in delaware where they have company headquarters. Banks, and all of the Multi National co. I wonder if that is what he was in town for. That is cool. It is the best in the land, cheese stake he had at the pennsylvania paths. What does geno said. H