August 31, 2023
CBS Austin recently published an article featuring Jay Zagorsky, Clinical Associate Professor of Markets, Public Policy, and Law on the possibility of employees receiving raises with the proposed overtime rules.
With this newly proposed rule by the Biden administration, workers who make $55,000 a year or less would be eligible for overtime, extending the eligibility by 3.6 million workers. Though this idea has excited several employees, there are people in opposition of the rule change too, arguing that businesses still haven’t recovered from the pandemic.
Zagorsky adds that, “Many businesses in retail and food services employ managers and assistant managers that are given extensive responsibility, but relatively low pay.”
For right now, employees must understand this is just a proposal by the Labor Department, and nothing is definite.