DOL’s New Overtime Rule Hurts Small Businesses

Date: April 23, 2024

Final rule will change the salary level methodology for determining exempt employees

WASHINGTON, D.C. (April 23, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, issued the following statement on behalf of Beth Milito, Executive Director of NFIB’s Small Business Legal Center, regarding the U.S. Department of Labor’s (DOL) overtime rule increasing the minimum salary threshold for exempt employees.

“This rule is another costly hoop for small business owners to jump through. Small businesses will need to spend valuable time evaluating their workforce to properly adjust salaries or reclassify employees in accordance with this complicated mandate,” said Beth Milito, Executive Director of NFIB’s Small Business Legal Center. “Main Street businesses do not have teams of lawyers or compliance officers on site to help implement changes every time a new government standard is enacted. They also don’t have the extra funds to arbitrarily increase wages when they are already doing everything in their power to provide the highest compensation and benefits they can for their employees.”

The NFIB Small Business Legal Center protects the rights of small business owners in the nation’s courts. NFIB is currently active in more than 40 cases in federal and state courts across the country and in the U.S. Supreme Court.

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