New Video Explains How Potential New Overtime Rule Could Affect Business
The U.S. Department of Labor (DOL) is expected to soon unveil its final overtime regulation, which will expand the number of employees who will be eligible for overtime compensation. The Office of Management and Budget’s (OMB) Office of Information and Regulatory Affairs (OIRA) is currently reviewing DOL’s proposal, a move that signals the final step of the rulemaking process is underway. OIRA began holding meetings on the rule with stakeholders at the end of March, and those meetings continue.
It has been reported by the media that the salary threshold in the proposed rule DOL submitted to OMB was reduced to $47,000 from the original $50,400 proposal. While this change is welcome, it would do very little to mitigate the harm that the new rule could cause. (Click here to read an analysis of the earlier proposal.)
Last week, the Partnership to Protect Workplace Opportunity (PPWO), an MSCI partner, released a video featuring the voices of non-profits, higher education, small businesses, and employees who would be adversely affected by the DOL’s proposed changes. Click here to watch that video—and stay tuned to Connecting the Dots, which will have more information once the DOL reveals its final rule.
As a reminder, on April 18, the Metals Service Center Institute (MSCI) joined with the 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.