Dept. of Labor Signs New Rule on Overtime Pay
The segment, “Dept. of Labor Signs New Rule on Overtime Pay,” featured on KHOU, highlighted a new rule signed off by the Department of Labor that will put more than a billion extra dollars into the paychecks of 4.2 million people; a cost that could be a burden for businesses.
Steve Roppolo commented on the impact the new overtime pay rule will have on business owners.
Steve said he’s been busy helping his clients prepare.
“The Department of Labor acknowledges that the impact is going to be $1.2 billion a year that's going to be added to what small businesses, large businesses and so forth are going to wind up having to pay,” Roppolo explained.
“Those kinds of increased costs, as we know, don't typically get absorbed by businesses but they are passed along in the form of increased prices. Hotel rooms might be a little more expensive, your meal might be a little more expensive.” he said.
To watch the full segment, please visit KHOU.