The National Lumber and Building Material Dealers Association is urging members to reach out to their representatives in congress to limit the impact of controversial new overtime regulations.
The NLBMDA seeks support for a bipartisan compromise to the Overtime Rule, the Overtime Reform and Enhancement Act (H.R. 5813), which would incrementally phase in the new threshold over a three-year period, beginning with a 52% increase this December, and more gradual increases in December 2017, 2018 and 2019. The legislation would also remove the automatic increase to the threshold.
The NLBMDA is pressing the issue because Congress may leave the Capitol at the end of the week and not return until mid November.
In May, the Department of Labor announced a final rule that will dramatically increase the number of employees eligible for overtime pay. The rule increases the salary level under which full-time salaried “white collar” employees qualify for overtime pay from $455 per week ($23,660 annually) to $913 per week ($47,476 annually).
The rule is set to take effect on Dec. 1.
In addition, the threshold will automatically adjust every three years and be based on the 40th percentile of average earnings for salaried workers in the lowest wage census region, which is currently the South. This means DOL will next increase the threshold levels to take effect on Jan. 1, 2020, and post the new salary levels 150 days in advance of the effective date (Aug. 1, 2019).
The NLBMDA writes: “Time is of the essence as Congress is expected to leave Washington this week and not return until mid-November. NLBMDA asks all dealers to contact their lawmakers in support of H.R. 5813, a bipartisan solution to reducing the impacts of the Overtime Rule.”
(Source: NLBMDA, 9/16/16)