November 23, 2016
Yesterday, Texas federal judge Amos Mazzant issued a preliminary injunction against the Department of Labor’s overtime rule, which was scheduled to take effect on December 1st. The rule would have doubled the salary threshold under which salaried employees are required to receive overtime pay for their hours worked beyond 40 in a week to $47,476. Alfredo Ortiz, president and CEO of the Job Creators Network, issued the following statement:
The injunction against the overtime rule protects small businesses and their employees from another unworkable Washington mandate. This rule would have forced small businesses to reclassify their valued salaried employees as hourly ones in order to track hours worked and not incur overtime labor costs. While small business employers would have lost out on some labor, the real losers from the rule would have been employees who would have seen the perks, flexibility, benefits, prestige, and job opportunities that come with being a salaried employee disappear. Judge Mazzant concluded that “the Final Rule exceeds the [Labor] Department’s authority” – a rebuke of federal regulators’ overreach into how small businesses are run.
The Job Creators Network (JCN) is the voice of real job creators that has been missing from the debate on jobs and our economic crisis. JCN members talk about paychecks, not politics, helping the public and policymakers understand how to create jobs. For more information, please visit www.JobCreatorsNetwork.c