Important Message on U.S. DOL Ruling
Yesterday, an important court ruling was issued that is good news to all employers and employees. The U.S. District Court ruled to permanently halt changes to the overtime rule that had been put forth by the U.S. Department of Labor (DOL) during the Obama administration.
These rules proposed last year by the Obama administration would have changed the annual salary threshold for exempt employees from the 2016 level of $23,660 to about $47,000, which is a significant policy shift and more than doubles the current rate and would have been updated every three years to reflect wage growth.
As the largest business association in Nevada, the Las Vegas Metro Chamber of Commerce applauds the decision by Judge Mazzant of the U.S. District Court for the Eastern District of Texas to grant a permanent injunction invalidating the burdensome changes to the overtime rule being undertaken by the U.S. DOL.
The Metro Chamber has strongly opposed the changes to overtime requirements because of the devastating impact it would have had on our members, as well as the millions of dollars it would have cost employers, including small businesses and non-profits across the country. The rules would have likely led to significant job losses, harming thousands of employees and harming our economy.
The Metro Chamber advocated against these rules on Capitol Hill. During our trips to Washington, D.C., we met with lawmakers and administrators to let them know the negative impacts this rule would have on real businesses like yours, and real people like your employees.
Additionally, we submitted our concerns with the U.S. DOL on behalf of our members. The Metro Chamber was also an early supporter of the lawsuit brought forth by Nevada's Attorney General. We appreciate his engagement in organizing a coalition of 21 states - including Nevada - because of concerns regarding the potential for unintended consequences relative to existing employers and employees.
This lawsuit resulted in a victory for employers and employees, and the Metro Chamber's engagement is another example of how we stand up for you to make sure your voice matters. Thanks to your support with your membership, we can continue to promote our pro-business environment.