Late in his second term, Barack Obama oversaw a regulation that called for workers to become automatically entitled to time-and-a-half overtime pay, making up to $47,476. The move infuriated both businesses and Republicans, who sought to block the rule in both Congress and the courts. The 2016 election of Orange Julius Caesar and a Texas judge’s ruling in the same year led the Labor Department to revisit the matter, setting a significantly lower threshold of $35,568. Under President Biden’s Department of Labor, the issue was reopened, and a rule was proposed at the end of August pushing that cutoff up by nearly $20,000 — to $55,000. The draft regulation, which still needs to be finalized, would also include a mechanism to adjust that level every three years by yoking it to the 35th percentile of annual income. According to the Labor Department, the proposed rule would pave the way for roughly 3.6 million additional workers to be eligible for time-and-a-half overtime pay than ...
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