A new overtime rule recently implemented by the Biden Administration is set to benefit 4.3 million U.S. workers who were previously ineligible for overtime pay. Under this rule, businesses are required to pay employees time-and-a-half for any hours worked beyond 40 in a week if they earn less than $1,128 per week.

The Economic Policy Institute predicts that this new rule will result in an additional $1.5 billion in pay for workers. The law specifically covers salaried employees who earn below certain thresholds, with the threshold increasing gradually in two phases. However, certain categories of workers, such as those classified as “executive, administrative, or professional,” are not eligible for overtime pay under this rule.

While this new rule has been welcomed by many workers and labor advocates, industry groups have expressed opposition, arguing that it will negatively impact their businesses and could potentially lead to job cuts. Despite the pushback, the Biden administration remains committed to ensuring fair compensation for workers and closing loopholes that allow employers to exploit labor laws.

Overall, the implementation of this new overtime rule marks a significant step towards improving the financial security of millions of American workers and ensuring that they are fairly compensated for their hard work.

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