Posted 9/2/2023, 4:32:06 PM

Biden admin's overtime rule would hurt small businesses, trade groups warn

The Biden administration's proposed rule to increase overtime for workers making less than $55,000 per year is facing criticism from trade groups, who argue that it could negatively impact small businesses already struggling with inflationary pressures and may not have the authority to tie the hands of future administrations with automatic increases.

foxbusiness.com

Relevant topic timeline:

8/30/2023

Labor Dept. Proposes Vast Expansion of Overtime Eligibility

The Biden administration is proposing to increase the overtime eligibility threshold for salaried workers to about $55,000 per year, up from $35,500, potentially affecting millions of workers and aiming to restore workers' economic security.

8/30/2023

Millions of salaried workers would get overtime pay under Biden administration proposal

The US Department of Labor has proposed a rule that would expand overtime pay eligibility, benefiting around 3.6 million salaried workers who earn less than $55,000 a year by guaranteeing them time-and-a-half pay for working over 40 hours a week.