Effective Dec. 1, salaried employees making less than $47,476 per year will be eligible for overtime pay, according to the U.S. Department of Labor.
The new U.S. overtime pay threshold will affect about 4.2 million employees nationwide, including 370,000 employees in Texas. The DOL estimates that workers will earn an additional $1.2 billion per year as a result of the rule.
The Greater Austin Chamber of Commerce has no official position on the ruling, and data on how many chamber members the ruling will affect is unavailable, said Mike Berman, senior vice president of marketing and communications.
After the threshold increase, the salary threshold will increase every three years, beginning Jan. 1, 2020.
