Obama Announces: Managers to Get Overtime
Managers on salary are denied overtime under the outdated regulations. A new rule would change that – some managers will be eligible for overtime.
Managers making more than $23,660 are not eligible for overtime
The rule would raise the salary threshold below which workers automatically qualify for time-and-a-half overtime wages to $50,440.
From the President’s Article in the Huffington Post:
We’ve got to keep making sure hard work is rewarded. Right now, too many Americans are working long days for less pay than they deserve. That’s partly because we’ve failed to update overtime regulations for years — and an exemption meant for highly paid, white collar employees now leaves out workers making as little as $23,660 a year — no matter how many hours they work.
This week, I’ll head to Wisconsin to discuss my plan to extend overtime protections to nearly 5 million workers in 2016, covering all salaried workers making up to about $50,400 next year. That’s good for workers who want fair pay, and it’s good for business owners who are already paying their employees what they deserve — since those who are doing right by their employees are undercut by competitors who aren’t.
That’s how America should do business. In this country, a hard day’s work deserves a fair day’s pay. That’s at the heart of what it means to be middle class in America.
As president, my top priority is to strengthen the middle class, expand opportunity and grow the economy. That’s why I believe in middle-class economics — the idea that our country does best when everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules. It’s driven me from day one. It’s fueled our American comeback. And it’s at the heart of the fundamental choice our country faces today.
Will we accept an economy where only a few of us do exceptionally well? Or will we push for an economy where every American who works hard can contribute to and benefit from our success?
Will we invest in programs that would help educate our children, maintain our roads and bridges, and train our workers for the high-paying jobs of the future? Or will we cut these programs, and decide to give more to the wealthiest Americans instead?
To me, the answer is clear. Let’s invest in America’s future. Let’s commit to an economy that rewards hard work, generates rising incomes, and allows everyone to share in the prosperity of a growing America. Let’s reverse harmful cuts to vital programs, and instead make the critical investments we need to grow our economy and strengthen the middle class.
That’s what I’ll be talking about this week — this choice, and these priorities.
America is at its best when we look out for one another. We soar when we strive to do better for one another. That’s what I’m focused on and that’s what I’ll fight for every day for the next 18 months.
Let’s get to work.