*UPDATE*
The new overtime regulations were approved, and will go into effect on December 1st, 2016.
Today, the Obama Administration is set to finalize its rule that would dramatically expand overtime pay for about 5 million workers. The rule currently is that managers and administrators who make over $23,660 a year can not qualify for overtime pay. The new rule will raise the threshold by $26,340 to $50,000. While the move is being praised by unions, other groups are in opposition to the new rule because rising labors costs could mean the loss of salaries, and benefits like health insurance and flexible works arrangements to help offset the costs.
What do you think about this new law, and how it will affect business and the people they employ in the US? Sound off in the comments.
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