If President Barack Obama goes through with a reported proposal to expand overtime protections, he could end up giving 10 million workers a raise.
Obama will direct the Secretary of Labor as early as Thursday to overhaul the rules governing overtime pay for workers who are considered exempt because their employers define them as an “executive or professional,” according to various reports.
The details of the proposal have yet to be released, but if Obama raises the salary threshold for being exempt from overtime pay from its current $455 a week ($23,660 a year) to $970 a week (about $50,000 annually), the move could provide a raise to 10 million workers, a recent analysis from the Economic Policy Institute found.
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