"Biden's Proposal: Expanding Overtime Pay to Millions of Salaried Workers"

The Biden administration has proposed a rule to raise the threshold for salaried workers to be eligible for overtime pay to about $55,000 per year, potentially benefiting around 3.6 million workers. However, business groups are expected to oppose the measure, as they did under the Obama administration. The proposed rule also includes automatic increases to the threshold every three years to keep up with rising wages. The National Retail Federation has expressed concerns about the proposed increase and the attempt to limit future administrations' authority. The Labor Department is seeking public comment on the rule for 60 days.