Federal Overtime Rules: How Will Your Business be impacted?
Tell the U.S. Department of Labor Your Thoughts on Overtime Rule Now
Remember the Overtime Rule? Well, it’s back…sort of.
Last year, you shared your concerns about how the new U.S. Department of Labor’s (DOL) Overtime Rule would impact you. The rule would have increased the salary threshold from $455 a week to $913 a week and required overtime pay if employees without managerial-natured duties worked over 40 hours.
The Overtime Rule is currently tied up in a Texas court and hasn’t taken effect, but efforts underway have reignited the debate.
The DOL is once again seeking public input on how to change overtime provisions, which have not been updated since 2004. Specifically, the department would like input on how to determine a new salary threshold, if certain types of employees should be exempt, and how any changes would impact businesses.
The Florida Chamber encourages you to share how your business will be affected. For more information and to submit written comments, please click here. Written comments can be submitted until September 25, 2017.
Do You Have Questions About the Overtime Rule?
Contact me at firstname.lastname@example.org or 850-521-1235.
Court Temporarily Blocks Overtime Rule- Here’s What’s Next
|A Texas court has granted a preliminary injunction blocking the Department of Labor’s (DOL) new overtime regulation nationwide. The rule, set to take effect Dec. 1, would have caused Florida job creators to make tough decisions on how to control costs while examining how they classify and pay employees.
If the rule had taken effect, it would have resulted in significant new costs – $12 billion over 10 years according to the White House – and it would have caused many disruptions in how work gets done. The reality is, changing overtime regulations will not guarantee more income, but instead will negatively impact Florida’s small businesses and drastically limit employment opportunities.
The Florida Chamber has actively fought this new rule since it was announced last summer, including:
|While the Court’s injunction is a move in the right direction, it’s only temporary. We must not retreat. Please take 30 seconds TODAY to share how this rule will impact your business, and encourage President-Elect Donald Trump to permanently repeal this proposed rule.
Here’s how you can share your voice:
|1. Go to President-Elect Trump’s website by clicking here
2. Copy and paste this text to share your story:
|Dear President-Elect Trump: Please repeal the Obama Administration’s Overtime Rule PERMANENTLY. This rule is harmful to businesses like mine and makes our state less competitive. Thank you for your support.|
Federal Bureaucrats Create New Mandates on Businesses: Department of Labor Finalizes Overtime Rule
Today, the Department of Labor released their long anticipated overtime rule, marking yet another burdensome federal mandate created by bureaucrats that will significantly impact businesses across the state and nation.
The rule, which takes effect December 1, 2016, doubles the salary threshold for which businesses must pay overtime. Employees making less than $47,476 a year are now required to receive overtime for any hours worked over 40 hours. The White House estimates that this will cost businesses $12 billion over 10 years and impacts 4.2 million workers. The salary threshold will automatically increase every three years to the 40th percentile of the lowest salary region in the country. Based on current projections, this would result in an increase to $51,000 on January 1, 2020.
The result is that job creators will have to make tough decisions on how to control costs while examining how they classify and pay employees. Businesses can increase salaries to above the threshold, switch employees from salaried to hourly, or limit overtime hours. This new mandate will increase costs to businesses, which can actually stifle job creation, result in employees losing benefits or job classifications, and could result in some businesses increasing costs to pay for additional overtime pay.
The Florida Chamber has actively fought this new rule since it was announced last summer, including submitting comments to the Department of Labor expressing concerns with the proposed rule, which can be found here. Additionally, the Florida Chamber led a team of business owners to Washington, D.C. last week to meet with Florida’s congressional delegation on the impact of this issue to Florida businesses.
Your Opinion Matters:
How will this impact your business? Send your comments to Carolyn Johnson.