President Obama Announces New Rule Allowing Salaried Workers Overtime Pay
President Obama announced new rules last week that will allow salaried workers to be eligible for time-and-a-half overtime pay. Obama announced the new rules, which are expected to take effect next year and apply to salaried workers making up to $50,440, in a Huffington Post op-ed. The proposal lifts the salary floor from the present $23,660, which was set in place in 2004, and applies to roughly 5 million workers.
In 1975, 62 percent of salaried workers were eligible for overtime pay, while today only 8 percent are eligible, according to the Economic Policy Institute.
Obama wrote that his top priorities are to strengthen the middle class, expand opportunity, and grow the economy.
The public can comment on the proposed changes, and it will be a year before they are finalized. They can be enacted through regulation, without approval by the Republican-led Congress, the Associated Press reported. If you have a problem in the workplace and need a labor lawyer, contact Dallas employment attorney Dan Atkerson today to set up a free consultation.
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