On May 17, 2016 the Administration released the overtime regulation the business community has been dreading for months. The new rule will double the salary threshold below which executive, administrative, and professional employees will have to be paid overtime for working more than 40 hours a week, from the current salary of $23,660 annually to $47,476 annually. What's more, the salary threshold will increase every three years. Employers have until December 1, 2016 before the rule goes into effect.
In anticipation of the overtime rule, federal legislators have introduced bills in both chambers to limit the damage. The Protecting Workplace Advancement and Opportunity Act (S. 2707 and H.R. 4773) would keep the regulation from taking effect and require the Department of Labor (DOL) to perform a better analysis on the impact changes to the overtime threshold will have on small businesses, nonprofits, regional economies, and local governments, in any succeeding proposed rule.
We encourage you to reach out to your legislators and ask them to cosponsor S. 2707 and H.R. 4773.
With your help, we can raise the voice of the business community and demonstrate that this rule will not boost employees' income, but instead will force employers to reduce employees' flexibility, benefits, and growth opportunities.
Ask your Members of Congress to add their name to the Protecting Workplace Advancement and Opportunity Act here.
U.S. Chamber of Commerce
The Glenwood Springs Chamber Resort Association was named 2013 Chamber of the Year by ACCE!