Gordon Sondland
Laura Cooper
Watch 3:11
News Wrap: Obama commutes prison sentences for 79 more
In our news wrap Tuesday, President Obama commuted the sentences of another 79 federal offenders, taking him over the 1,000 mark. The White House says that’s more than the past 11 chief executives combined. Also, a federal judge in Texas…
Labor Department needs to clarify change to overtime rules, rules Supreme Court
The Supreme Court says the Labor Department must do a better job of explaining why it is changing a longstanding policy on whether certain workers deserve overtime pay.
Will the new overtime regulations help or hurt the economy?
Last week, the Obama administration unveiled new overtime regulations that would double the salary threshold that automatically entitles workers to overtime pay to $47,476.
Watch 2:34
For the first time since 2004, the federal government is changing the earnings threshold that governs who is eligible for overtime pay. Some Republicans and business advocates warn that the rules change could turn out to be a job killer.
If you’re a salaried employee who makes under $47,476 a year, you will now be paid time and a half for every hour you work over 40 hours a week.
President Obama is calling for a substantial expansion of who’s eligible to earn overtime pay. His proposal would the lift the salary cap to $50,000 for all workers, even managers and executives. But many businesses have said the president’s idea…
If you work more than 40 hours a week, you are supposed to get overtime. But if you are an “executive” earning more than $23,600 a year, you don’t qualify. Economics correspondent Paul Solman explores how this loophole can lead…
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