The Obama administration, in a far-reaching effort to improve the lot of workers announced on Tuesday that it was making millions more employees eligible for overtime pay.

Under the new regulation to be issued by the Labor Department on Wednesday, most salaried workers earning up to $47,476 a year must receive time-and-a-half overtime pay when they work more than 40 hours during a week. The previous cutoff for overtime pay, set in 2004, was $23,660.

"While more must be done to raise the wages of American workers, this long overdue change in overtime rules is a step in the right direction and good news for millions of workers," Sen. Bernie Sanders said. "Too many Americans are working longer hours for lower wages. If we are serious about expanding the middle class, we must ensure that workers are paid fairly for all the work they do. Extending overtime pay will help millions of middle-class families, who have gone far too long without a raise. It’s time hard working Americans got the pay they deserve.”

Sanders led the push in the Senate with 23 of his colleagues to extend overtime pay. To read Sanders’ letter to Labor Secretary Tom Perez, click here.