Punch clock Currently thosemaking $24,000 a year or less are entitled to time-and-a-half payfor all hours worked past 40 in a week. (Photo:Shutterstock)

The Obama administration wanted to raise the salary below which workers would beentitled to overtime to $47,000 from its current level of $23,660.That didn't happen, thanks to a Texas judge who blocked it, butthat wasn't the end of it. The law, like many others, entered wasdormant but not dead. This week, the LaborDepartment unveiled its revised proposal, which increases thethreshold to $35,308 and would make 1.3 million more Americanseligibility for overtime pay.

“Employers who recall the feeling of panic when the Obamaadministration issued its Final Rule doubling the salary basisthreshold in May 2016 will breathe a sigh of relief over the muchsmaller increase proposed by the Department of Labor yesterday,”says Ryan Mick, a partner with law firm Dorsey & Whitney.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.