Biden administration proposes major expansion of overtime pay eligibility for salaried workers under $55K

The proposed rule aims to extend overtime protections to around 3.6 million currently exempt salaried workers.
The new rule would raise the overtime salary threshold from the current $35,568 to $55,000 annually.
The proposal includes automatic updates to the threshold every three years based on wage data.
Labor advocates largely support the expanded overtime coverage, while business groups raise concerns about costs.
The rule follows previous attempts under Obama and Trump to update overtime regulations for inflation and wage growth.