Who Makes a Promise

Source: EconLog
by Kevin Corcoran

“Another day, another labor market intervention! Recently, the Biden administration has announced new rules regarding overtime pay and salaried employees. Generally, salaried employees are paid a flat rate, not paid by the hour, and as such don’t get traditional overtime pay. But legislators have decided that lower-paid salaried workers should also get overtime pay. This itself isn’t new – what is new is that the Biden administration is increasing the salary cap for this rule to apply.” (05/15/24)