Obama’s Latest Regulation

Millions of Americans could see a boost in wages or reduced workload as a result of new federal regulations on overtime pay the Obama administration is unveiling this week.

Under the regulations, private-sector workers who make up to $50,400 a year will be guaranteed the right to earn additional pay if they work more than 40 hours per week. Currently, only workers who make $23,660 a year, or less than $455 a week, have those same protections.

The salary threshold had not been raised for a decade when Obama ordered the Labor Department to conduct a review last year, calling the figure outdated. The president plans to discuss the change Thursday in a trip to Wisconsin and previewed it in a Huffington Post op-ed posted Monday night.

“We’ve got to keep making sure hard work is rewarded. Right now, too many Americans are working long days for less pay than they deserve,” he said.

The change is likely to please labor advocates who had called on the administration to consider raising the threshold to salaries of at least $42,000 per year. They say an increased threshold could help stimulate the economy by boosting middle-class workers’ wages or triggering new hiring to prevent the need for paying the higher overtime rate. (Read more from “Obama’s Latest Regulation” HERE)

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