New Overtime Rules Kick In July 2024: Biden Administration to Benefit 4 Million Workers

July 2024 marks a significant shift as Biden's overtime rule raises pay thresholds, impacting millions.

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The new rule updates salary caps from $35,568 to $43,888, then to $58,656 in 2025, expanding eligibility.

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Acting Secretary Julie Su states, 'If you work over 40 hours, you deserve to be paid more.

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From 2027, the rule introduces triennial adjustments based on updated wage data.

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Highly compensated employees see threshold jumps to $132,964 in July and $151,164 by 2025.

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The Department of Labor's engagement process included over 33,000 public comments

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Opposition voices concerns over increased business costs under the new regulations.

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Supporters argue the rule corrects nearly 50 years of outdated overtime protections.

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The rule’s promise: more pay for long hours, or more time with family for millions of U.S. workers.

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