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April 25, 2016

MSCI Joins Coalition Calling For Economic Analysis Of DOL Overtime Rule

On April 18, the Metals Service Center Institute (MSCI) joined with the Partnership to Protect Workplace Opportunity (PPWO) and nearly 140 other groups and 201 regional, state, and local organizations urging members of Congress to support legislation that would require the U.S. Labor Department (DOL) to conduct a detailed economic analysis before making dramatic changes to federal overtime pay requirements. 

The letters, which are available here, asked lawmakers to cosponsor S. 2707/ H.R. 4773, the Protecting Workplace Advancement and Opportunity Act. The legislation would require that DOL conduct a comprehensive analysis of the impact on career development and workplace flexibility and on small businesses, nonprofits, and local governments before moving forward with its proposed changes. The letters were supported and co-signed by representatives of nonprofits, institutions of higher education, schools, cities and counties and small and large businesses across the country, all of which are concerned about the unintentional damage DOL’s proposal would cause to workers, employers, and the U.S. economy. 

PPWO Spokeswoman Lisa Horn said, “Labor Department’s proposal would not only result in an estimated cost of $8.4 billion per year, but will reduce opportunity and flexibility for millions of executive, professional, and administrative employees—particularly those at the beginning of their career. Statements by DOL officials suggest the Department plans to ignore the tens of thousands of comments asking it to reconsider the proposal. As a result, Congress must act and force the department to examine more closely the impact of the drastic and immediate increase and consider less harmful alternatives.” 

Click here to learn more about the House and Senate legislation MSCI supports, and for an explanation of why MSCI opposes the DOL’s new overtime rules.