STATEMENT: Advancement of Overtime Rule Is a Win for Workers, Says CAP’s Andy Green
Washington, D.C. — This week, the U.S. Department of Labor advanced its proposed overtime rule by sending it to the White House Office of Management and Budget, or OMB. Sending a proposed rule to OMB is typically one of the last steps for a rule before it becomes final.
According to the U.S. Department of Labor, or DOL, certain professionals and managers are currently exempt from overtime if they make more than $23,660 per year and perform specific duties. Last year, President Barack Obama directed the DOL to update the regulations regarding who qualifies for overtime protection; the salary threshold is projected to be about $50,440 at the time of implementation. Updating the overtime rule will help ensure that workers receive wages commensurate with their responsibilities and with the length of their workday.
Andy Green, Managing Director for Economic Policy at the Center for American Progress, released the following statement:
The advancement of the overtime rule is a win for millions of workers who—once the rule is finalized—will finally receive the fair day’s pay they have earned. The current overtime threshold has not been updated in years and was in fact eroded during the President George W. Bush administration. Given this Congress’ inaction on anything that would raise worker wages, the Obama administration is right to act aggressively to lift the economic livelihoods of millions of working- and middle-class families.
- How Overtime Reform Will Grow the Economy from the Middle Out by Brendan Duke
- New Overtime Rule Could Raise Wages for 4.7 Million Millennial Workers by Sunny Frothingham
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