CROSS REFERENCE TABLE-Continued The following section of the Fair Labor Is referred to in the following_section Standards Act of 1938-Continued of such Act-Continued CROSS REFERENCE TABLE-Continued The following section of the Fair Labor Is referred to in the following section Standards Act of 1938--Continued of such Act-Continued CROSS REFERENCE TABLE-Continued The following section of the Fair Labor Is referred to in the following section Standards Act of 1938-Continued of such Act-Continued RELATED PROVISIONS OF LAW PROVISIONS OF THE PORTAL-TO-PORTAL ACT OF 1947 WHICH AFFECT THE FAIR LABOR STANDARDS ACT OF 1938 AN ACT To relieve employers from certain liabilities and punishments under the Fair Labor Standards Act of 1938, as amended, the Walsh-Healey Act, and the Bacon-Davis Act, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, PART I FINDINGS AND POLICY SECTION 1. (a) The Congress hereby finds that the Fair Labor Standards Act of 1938, as amended, has been interpreted judicially in disregard of long-established customs, practices, and contracts between employers and employees, thereby creating wholly unexpected liabilities, immense in amount and retroactive in operation, upon employers with the results that, if said Act as so interpreted or claims arising under such interpretations were permitted to stand, (1) the payment of such liabilities would bring about financial ruin of many employers and seriously impair the capital resources of many others, thereby resulting in the reduction of industrial operations, halting of expansion and development, curtailing employment, and the earning power of employees; (2) the credit of many employers would be seriously impaired; (3) there would be created both an extended and continuous uncertainty on the part of industry, both employer and employee, as to the financial condition of productive establishments and a gross inequality of competitive conditions between employers and between industries; (4) employees would receive windfall payments, including liquidated damages, of sums for activities performed by them without any expectation of reward beyond that included in their agreed rates of pay; (5) there would occur the promotion of increasing demands for payment to employees for engaging in activities no compensation for which had been contemplated by either the employer or employee 129 U.S.C. 251-262. (51) |