President Obama announced plans on Monday to unveil a rule change that could raise wages for 5 million workers who are currently excluded from overtime pay.
In a Huffington Post op-ed, Obama said he would recommend changing overtime rules so that salaried workers who earn less than $50,400 per year would be guaranteed time-and-a-half wages when they work more than 40 hours a week. Salaried workers must make less than $23,660 to qualify for overtime pay.
Details of the proposal were first reported by Bloomberg. The rule change must first undergo a public-comment period before it can be finalized, but the administration has the power to issue the regulation without congressional approval. The changes are expected to go into effect in 2016. Read more at the Huffington Post.
{Andy Heller-Matzav.com Newscenter}
