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News

ARTICLE

Date ArticleType
11/8/2023 6:10:56 PM Advocacy

ICYMI: Department of Labor Budget Buster Overtime Rule Proposal

A detrimental change to white-collar exemptions to federal overtime pay requirements is being proposed by the U.S. Department of Labor (DOL). The proposed rule would increase the minimum pay threshold of an exempt salaried employee nearly 70% - from $35,568/year to $60,209/year.  The threshold for highly compensated employees will increase from $107,432/year to $143,988/year. The proposed rule also includes automatic escalators every three years.

An increase this dramatic – followed by automatic increases every three years – raises concerns about rising labor and administrative costs that could ultimately result in employees being reclassified as nonexempt, stripping them of workplace flexibility. 

As part of the US Chamber of Commerce federation of local chambers, the Lakeland Chamber of Commerce has signed on to a letter drafted by the Partnership to Protect Workplace Opportunity – an organization in which the US Chamber plays a leading role. In this letter to the DOL, the Partnership outlines the concerns of the business community and the impacts of this proposed rule on businesses like yours.

Read the sign-on letter here.

To make your voice heard, we encourage you to use the Partnership’s web portal which includes template letters that can be sent directly to DOL and your members of Congress. https://protectingopportunity.org/stop-the-dols-overtime-pay-rulemaking/#/8/

For questions or assistance, please contact the Chamber’s Director of Public Affairs Jon Miller at jmiller@LakelandChamber.com or (863) 688-85551 Ext. 231.

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