The U.S. House has passed a bill that would delay the implementation of federal regulations extending the right to earn overtime pay to an estimated 4.2 million workers.
The bill, which now goes to the Senate, sets June 1, 2017, as the effective date of the regulations, which are scheduled to take effect Dec. 1. The regulations double to $913 a week from $455 the threshold under which salaried workers must be paid overtime. On an annual pay basis, the threshold will increase to $47,476 from $23,600.
The bill, the Regulatory Relief for Small Businesses, Schools and Nonprofits Act, is supported by small business advocacy groups who say the regulations burden small businesses by sharply increasing their labor costs. Opponents also say the regulations could lead to job losses at some companies.
SCORE, the organization that gives free counseling to small businesses, plans an online seminar to explain the overtime regulations. It will be at noon Thursday. Learn more and register at http://tinyurl.com/zcoe9pl.
