From SHRM: Society for Human Resource Management
By: By Allen Smith 3/18/2016
As the Department of Labor’s (DOL’s) overtime rule hurtles toward finalization, advancing to the Office of Management and Budget (OMB) March 14, House and Senate Republicans stepped in and introduced legislation March 17 calling for the rule to be stopped in its tracks.
“This mandate on employers will hurt the lowest paid American workers the most, by reducing their opportunities for a promotion or a better job and making it all but impossible for workers to negotiate flexible schedules,” said Senate Health, Education, Labor and Pensions Chairman Lamar Alexander, R-Tenn., when introducing the bill. Alexander said small independent colleges in Tennessee estimate the rule would cost each of their schools a minimum of $1.3 million—“a giant figure that may cost the colleges’ students in tuition hikes and cost employees in job cuts.”
As proposed, the rule recommended setting the salary threshold for exempt employees at $50,440 annually, up 113 percent from the current $23,660 annually. It also called for annual automatic increases to the salary threshold and suggested that the – See more at: https://www.shrm.org/legalissues/federalresources/pages/overtime-rule-bill-introduced.aspx#sthash.SwiXZDkj.dpuf