While the details haven't been released yet, the president is expected to raise a weekly wage threshold that determines whether an employee who is on salary can get overtime. The move would affect workers such as fast-food or convenience store managers, who aren't highly compensated but are treated as exempt from overtime.
Currently, the Department of Labor says salaried workers are exempt from overtime if they earn more than $580 per week, which is twice the federal minimum wage of $7.25 per hour. That's an annual salary of $30,160. Obama is expected to increase that threshold, opening the door for more managerial-type workers to get overtime.
It's unclear whether the measure will have a large impact in California, where a salaried worker is exempt from overtime if they earn more than $640 per week, or twice the state minimum wage of $8 per hour. Many fast-food managers in San Diego already don't make enough to be exempt from overtime, earning a median $13.87 per hour, or $584 per week, the state Employment Development Department reports.
Also, in California, the qualifying threshold to be exempt from overtime will increase twice in the next two years. READ MORE
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From the Weekly Standard.
"At a Democratic fundraiser last night (Tuesday night) in New York City, President Obama said, "I hope you will all step up because, although I'm very optimistic about our long-term trends, the notion that we would waste two years in further inaction rather than move boldly on a path that I think all of us in this room agree on -- we don't have time to waste."
"The president continued, "I don't have time to waste. The clock is ticking. There’s less than two years left -- less than three years left."
