Throughout his presidency, President Obama has dedicated himself to exploring policies with the goal of making life better for working Americans and making sure they are fairly compensated for their time and effort.Unfortunately, the GOP has become a major obstacle for the President ever since he stepped foot in the White House. After a Republican Congress made it perfectly clear that they won t even consider a minimum wage increase, the Obama administration was forced to seek out another alternative   and it s finally going to pay off. Thanks to Obama s overhaul on overtime pay   which doubles the salary level that workers must be paid overtime, millions of Americans are going to have more money in their pockets. This is major news, because this law hasn t been changed in over ten years!When Obama first mentioned that he wanted to revamp overtime pay, hardly anyone took him seriously. At his State of the Union address last year, the President said,  We still need to make sure employees get the overtime they ve earned.  Then, he unveiled a proposal to raise the income thresholds for those who would be eligible for overtime. It still seemed like faraway goal, until yesterday when the Labor Department finalized those new rules   an initiative that the Huffington Post called  one of the most ambitious economic reforms of the Obama era. Vice President Joe Biden announced the decision on Tuesday, stating that middle-class workers have  been getting clobbered  for decades. Biden said: The American people want to work. They want a fair shot. No handouts, no guarantees. Just a good job at a fair wage. Under the new rules, all workers earning salaries under the overtime salary threshold are entitled to time-and-a-half pay when they work over 40 hours per week   which many do. The previous threshold was only $23,660   making millions of struggling, hard-working Americans ineligible. But thanks to the Obama administration, that number will be doubled to $47,476, which guarantees overtime rights for any salaried workers earning underneath that number. Before this was changed, only 7% of Americans were eligible for overtime. And it gets better   the threshold will be updated by the Labor Department every three years to make sure that it keeps up with inflation. The Huffington Post reported:Featured image via Pool / Getty Images