Obama Overtime Plan Won’t Hurt Businesses, Executives Admit
Obama Overtime Plan Wont Hurt Businesses, Executives Admit
Zaid Jilani
May 24 2016, 3:40 p.m.
Business interest groups and their allies engaged in hyperbolic rhetoric about the supposed negative impact of overtime regulations before they were announced last week. By changing a salary threshold, the new rules will make millions of workers newly eligible to be paid for their overtime hours.
Businesses will be forced to look for cuts in the face of such massive costs, Competitive Enterprise Institute policy analyst Trey Kovacs predicted. Right-wing economics analyst Michael Carr even worried that the overtime rules could help start another recession.
House Speaker Paul Ryan warned that they would cause people to lose their livelihoods.
You just cant do this! said a former McDonalds CEO.
But in investor calls over the past week, executives at some leading American retailers quietly admitted that the rule will only have a modest impact on their bottom lines, if any at all.
More:
https://theintercept.com/2016/05/24/dire-predictions-about-obama-overtime-rule-overblown/