Salaried and executive employees are currently exempted from department of Labor regulations requiring overtime pay for hourly employees. But Barack Obama blindsided the business community this week by announcing that he was going to review and modify that law, on his own, through executive order.
His efforts to raise minimum wage have been abandoned by democrats after the non-partisan Congressional Budge Office calculated that the raise would cost 500,000 jobs by 2016. Expect the Congressional Republicans to ask the CBO to make a similar review of this proposal. And expect similar if not worse results.
Comments