ML-Implode News - Obama Admin Extends Overtime Pay To 4.2M Workers

The Labor Department announced Tuesday that it completed one of the most ambitious economic reforms of the Obama era, finalizing a new rule that will extend overtime protections to millions of additional workers. The administration will accomplish that by raising what's known as the overtime salary threshold. Nearly all workers earning salaries beneath that threshold are entitled to time-and-a-half pay whenever they work more than 40 hours in a week.
The current threshold is just $23,660. The White House will be doubling that number, to $47,476, guaranteeing overtime rights for salaried workers earning less than that. The Labor Department will now update the threshold every three years to make sure it keeps pace with inflation.

The White House estimates that the change will bring overtime rights to 4.2 million workers who are currently excluded. It will also clarify eligibility for another 8.9 million workers who may or may not have overtime protections under the current rules, officials said.
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With a minimum wage hike blocked on Capitol Hill, expanding overtime was the most aggressive way for the Obama administration to raise wages for private-sector workers. The White House is making the reforms through the executive rule-making process, under the Fair Labor Standards Act.

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Obama Admin Extends Overtime Pay To 4.2M Workers