President Obama recently signed an executive order calling for new rules on overtime pay. Currently, salaried workers in executive, administrative and professional positions aren’t eligible for overtime pay if they make over $455 per week. The President suggested $600 or $640 as the new threshold – the current standards for New York and California.
Unfortunately, these new overtime law changes, if put into effect, will most likely disproportionately affect small businesses. While most large firms can absorb new regulatory costs, small businesses have less revenue to spread the costs across. Read More
Source: Fullerton Chamber of Commerce