WASHINGTON, D.C.— U.S. Chamber of Commerce released the following statement today regarding the Department of Labor’s (DOL) final regulation adjusting the overtime salary threshold to just over $35,500 a year.
“The new overtime salary threshold is a balanced and responsible update to the standard that has been in place for 15 years,” said U.S. Chamber of Commerce Vice President of Workplace Policy Marc Freedman. “The new threshold will preserve the flexibility enjoyed by millions ofsalaried employees that allows them to adjust their schedules to accommodate parental and family obligations. At the same time, this new level means those employees whose duties makethem eligible for overtime will remain so.”
The previous administration’s revised salary threshold would have forced employers to reclassify large numbers of their employees to hourly wage workers, regardless of the duties they were performing. This was the basis for a federal judge striking down that threshold in a legal challenge led by the U.S. Chamber.
“The DOL’s new regulation also locks in the formula for calculating the salary threshold and sets a solid foundation going forward so that both employers and employees will benefit,” added Freedman.
