Labor Department Poised to Boost Overtime Threshold to $35,000

Workers who make less than about $35,000 a year will be eligible for overtime pay under a long-awaited proposal the Labor Department is set to unveil soon, sources familiar with the situation tell Bloomberg Law.

The department is close to proposing a new regulation to update time-and-a-half pay requirements for all hours worked beyond 40 a week. The rule would raise the salary threshold under which workers are automatically entitled to overtime wages from about $24,000, but wouldn’t go to the $47,000 mark pushed by the Obama administration. A federal judge in Texas blocked that proposal before it took effect. ...