Millions more American workers will soon be eligible for overtime pay under a rule being finalized Wednesday by the Labor Department.
The rule says anyone who makes less than $47,476 per year must receive time-and-a-half pay for hours worked beyond 40 hours a week. That's roughly double the current threshold of $23,660.
The measure is one of the most sweeping moves the Obama administration has made so far in its efforts to boost slow-growing incomes. But it's sure to face opposition from some business owners.
According to the Labor Department, the higher income threshold will make 4.2 million salaried workers newly eligible for overtime pay. The rule could also benefit millions of others who are already technically eligible but not receiving overtime.
[The impact in California? According to the Los Angeles Times: "Labor Department officials estimated the new overtime rule will help a total of 4.2 million salaried, non-manufacturing workers nationwide, including 146,000 in California who are not currently protected by the state overtime threshold."]
"Our whole mission here is about strengthening and growing the middle class," Labor Secretary Tom Perez told NPR. "In order to do that, we need to ensure that middle-class jobs pay middle-class wages."