Labor Department Unveils Massive Overtime Expansion Plan

By Ben James (June 30, 2015, 9:52 AM EDT) -- The U.S. Department of Labor unveiled a proposed rule Tuesday that would broaden federal overtime pay regulations to cover nearly 5 million more people and raise the minimum salary threshold required to qualify for the Fair Labor Standards Act's "white collar" exemption to $50,440 per year.

President Obama signs a memorandum directing the Labor Department to "modernize and streamline" FLSA overtime regulations on March 13, 2014. (Credit: White House) The highly anticipated proposal stems from a memorandum President Barack Obama issued in March 2014 that directed Labor Secretary Thomas Perez to "modernize and streamline" the regulations on exemptions from the FLSA's...

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