In 1938, a revised version of Senator Black's proposal was passed that adopted an eight-hour day and a forty-hour workweek and allowed workers to earn wage for an extra four hours of overtime as well. According to the act, workers must be paid minimum wage and overtime pay must be one-and-a-half times regular pay. Children under eighteen cannot do certain dangerous jobs, and children under the age of sixteen cannot work during school hours. The Fair Labor Standards Act affected 700,000 workers, and President Franklin Roosevelt called it the most important piece of New Deal legislation since the Social Security Act of 1935.

Is the following statement correct based on the text

was the fair labor standards act part of the new deal
yes