In reality, it’s just enforcing a bit of fairness:
The Department of Labor on Wednesday will finalize a rule extending overtime protections to 4.2 million more Americans currently not eligible under federal law, boosting wages by $12 billion over the next 10 years, the White House said Tuesday evening.
The updated rule, which takes effect Dec. 1 and doubles the salary threshold below which workers automatically qualify for time-and-a-half wages to $47,476 from $23,660 a year, or from $455 to $913 a week. Hourly workers are generally guaranteed overtime pay regardless of what they make.
“We’re strengthening our overtime pay rules to make sure millions of Americans’ hard work is rewarded,” President Obama said in a statement. “If you work more than 40 hours a week, you should get paid for it or get extra time off to spend with your family and loved ones.”
One of those Americans, Obama said, is Elizabeth Paredes, a single mom from Tucson, Arizona, who works as an assistant manager at a sandwich shop. “Elizabeth sometimes worked as many as 70 hours a week,without a dime of overtime pay,” Obama said. “So Elizabeth wrote to me to say how hard it is to build a bright future for her son. And she’s not alone.”
$12 billion over ten years is real money, and could be a game changer for a lot of people.