By Hon. Kevin Brady (R-TX) Special for USDR
Today, Congressman Kevin Brady, (R-TX) released the following statement on the Department of Labor’s (DOL) finalized overtime rule.
“Once again this White House has chosen government red tape over economic growth. Today’s overtime rule makes no sense for American businesses or American workers. Small and big businesses, nonprofits, local government and academic institutions will be forced to reduce hours and cut jobs to stay afloat. My colleagues and I are exploring all options to bring common sense back to Washington and stop America’s workforce from shouldering the punishing consequences of this ill-conceived rule.”
Background: The U.S. Department of Labor’s final overtime rule will double the salary threshold for overtime exemption, effective Dec. 1, 2016. The new salary test—$47,476 per year, or $913 per week—will be based on the 40th percentile of full-time salaried workers in the South, the lowest-income Census region.
Currently, workers earning more than $23,660 per year are not eligible for time-and-a-half pay for hours beyond 40 in a week if they also perform certain executive, professional or administrative duties. The new rule leaves intact the current duties test.
To view the full rule click here.