The Protecting Workplace Advancement and Opportunity Act that was introduced in Congress on March 17 will delay the proposed overtime rule change that was proposed by the Department of Labor (DOL), according to the National Lumber and Building Material Dealers Association (NLBMDA). Currently, employees who earn $23,360 annually or less qualify for overtime pay; the proposed change would raise that qualification to $50,440 annually.
The act will require the DOL to complete an analysis of the overtime change’s economic impact on small businesses, nonprofits, and public employers. "The NLBMDA encourages Congress to delay the final rule until DOL conducts a comprehensive economic analysis as recommended by the Obama Administration's Small Business Administration," says NLBMDA president and CEO Jonathan Paine. The DOL submitted a copy of the rule to the Office of Management Budget (OMB) before the act was submitted to Congress. The OMB’s Office of Information of Regulatory Affairs (OIRA) will have 30 days to review and revise the rule before it goes back to the DOL for finalization. The DOL could have the new rule as early as the end of April.
To read more information about the Protecting Workplace Advancement and Opportunity Act, click here.