House passes bill seeking to delay implementation of new overtime rule
The United States House of Representatives passed a bill, the Regulatory Relief for Small Businesses, Schools, and Nonprofits Act, which seeks to delay the implementation of some of President Obama’s new federal regulations. Obama’s executive order, which was signed in 2015, would mandate the expansion of overtime pay to an estimated 4.2 million workers.
The measure, which received support from small business advocacy groups, seeks to delay the implementation of the law to June 2017 from December 2016. Business owners are generally of the opinion that the federal regulations place unnecessary burdens on small business groups by adding to their labor costs
According to the Thomson Reuters/PayNet Small Business Lending Index, small business borrowing increased by nearly 9% in August 2016, up from from 123.1 in July. The August borrowing was down by 1% from the same period last year. Business counseling organization SCORE will give a free lecture on the new overtime regulations on Thursday, October 20.
If your employer fails to pay you the proper overtime rate, or if you have other issues regarding your overtime pay, seek the legal assistance of the attorneys at Williams Kherkher by calling our offices today at (888) 262-9002.