Right now, business owners have a chance to delay the new regulation that more than doubles the salary threshold for employees to be exempt from overtime pay.
The House of Representatives has already passed legislation to delay the December 1 deadline. The Senate's Overtime Reform and Review Act (S. 3464), sponsored by Health, Education, Labor and Pensions Committee Chairman Lamar Alexander will:
- Reduce the increase to only $35,984 on Dec 1 and delays future increases until Dec 1, 2018
- Require a General Accounting Office study on the effects of increases to the salary threshold for exempt employees
- Raise the threshold roughly 10% each year over the next three years to finally reach $47,476 in 2020 (Instead of raising it to $47,476 next month!)
- Stop the automatic 3-year escalators required by the original rule
While this bill doesn't fix this regulation entirely, it helps businesses large and small deal with this regulation a lot easier than the current rule. Due to the current make up of the Senate, this bill is the best shot we've got. Please take a few minutes to write your Senator and explain how important it would be for you and other job creators to have a gradual phase in of the new threshold.
Please click the link below to take action on this important legislation.
President & CEO
Job Creators Network