Job Creators Network Slams Biden Administration’s Proposed Overtime Rule
Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to the Biden administration’s new overtime rule, which raises the salary threshold under which businesses must pay employees for overtime work to $55,000 a year:
“The Biden administration’s new overtime rule hurts small businesses and workers. It increases payroll costs on small businesses at the worst possible time as they contend with Bidenflation and a credit crunch. And it hurts millions of salaried employees, often middle managers, by preventing them from working the hours needed to get the job done and climb the corporate ladder.
“To prevent these employees from triggering new overtime costs, many small businesses will be forced to demote them back to hourly wage earners, reversing their hard-earned career progression. This rule is just the latest front in the Biden administration’s war on small businesses and American workers.”