We were excited to learn that the Department of Labor has finished work yesterday on its rule to extend overtime pay rights to millions of salaried employees, and sent it on to the Office of Management and Budget for final approval by the White House. The rule will not only raise pay and incomes for millions of workers, it will also create hundreds of thousands of jobs as businesses reduce excessive overtime because they will have to pay for it, and pay at one-and-a-half times the regular rate of pay.
Secretary Perez, Wage and Hour Administrator David Weil, and the regulatory team led by Mary Ziegler deserve our thanks for making this rule a priority, drafting a strong proposal, working through the almost 300,000 comments that were submitted in the rulemaking process, and finishing in a timely way.