Labor Department Plans July Release of Final Overtime Rule

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The Labor Department is looking at a July 2016 release of the highly anticipated and contentious final rule to raise the overtime pay exemption threshold, according to the fall 2015 semiannual regulatory agenda published by the Office of Management and Budget late Nov. 19. The department's Wage and Hour Division is reviewing nearly 300,000 comments received on the proposed rule, issued in June, which would update the Fair Labor Standards Act by more than doubling the minimum salary for the overtime exemption to $50,440 per year from $23,660. The proposal has come under attack from the business community for being needlessly expensive, potentially costing jobs and curtailing career advancement.