Author Topic: Obama takes parting shot at small businesses  (Read 297 times)

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rangerrebew

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Obama takes parting shot at small businesses
« on: November 28, 2016, 03:43:30 pm »
 Obama takes parting shot at small businesses
Posted By Garth Kant On 11/27/2016 @ 6:39 pm In APP Frontpage,Front Page,Money,Politics,U.S. | No Comments
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WASHINGTON – Employers across America are in limbo as they try to figure out how deal with the immense legal uncertainty surrounding an attempt by the outgoing Obama administration to make millions of more workers eligible for overtime pay, while placing an expensive and substantial new regulatory burden on an untold number of small businesses.

The Department of Labor’s Final Rule (Overtime), scheduled to go into effect on Dec. 1, would make more than 4 million workers eligible for overtime pay.

The new regulation would raise the threshold so that those making up to $47,476 a year would receive overtime pay, more than doubling the current cutoff of $23,660 a year.

Twenty-one states filed suit to stop what would amount to a massive new financial charge on employers, primarily small-business owners.

U.S. District Judge Amos L. Mazzant Amos issued a temporary injunction from his bench in Texas on Tuesday to keep the new rule from being enforced, but the final outcome is anything but certain.

Here’s the problem for employers:



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