Power counting and modes in SCET

We present a formulation of soft-collinear effective theory (SCET) in the two-jet sector as a theory of decoupled sectors of QCD coupled to Wilson lines. The formulation is manifestly boost-invariant, does not require the introduction of ultrasoft modes at the hard matching scale $Q$, and has manifest power counting in inverse powers of $Q$. The spurious infrared divergences which arise in SCET when ultrasoft modes are not included in loops disappear when the overlap between the sectors is correctly subtracted, in a manner similar to the familiar zero-bin subtraction of SCET. We illustrate this approach by analyzing deep inelastic scattering in the endpoint region in SCET and comment on other applications.