Prime News: Obama administration moves to make millions eligible for overtime pay

U.S. President Barack Obama announced on Monday a proposal of a possible overtime pay for nearly 5 million, a move that would touch almost every U.S. economy sector, and could face legal challenges.

Obama said the proposal would more than double the maximum income a salaried worker can earn and still be eligible for overtime pay to $50,440, or $970 a week. The current threshold is $23,660.

Obama said he would discuss more details of the proposal later this week in Wisconsin.

The material has been provided by InstaForex Company – www.instaforex.com

Tags: