While I’m not totally against it, it’s not that appealing to me. Here are a few reasons:
1. I will not receive any immediate benefit, as I am a salaried employee. Lower the overall FWT on all taxable payroll, and let everyone reap the benefit of the tax break.
2. I would assume that it would just be only premium portion of overtime hours worked. It would still be a savings of FWT, but not nearly what people are thinking.
3. Anytime tax revenue is forfeited, it has to be made up somewhere else. I wonder where the lost revenue will come from? He may have a good answer for that question, but for now, it is an unknown.