Washington, D.C. (April 23, 2024) – The National Federation of Independent Business (NFIB) has expressed concerns over the U.S. Department of Labor’s (DOL) new overtime rule, which increases the minimum salary threshold for exempt employees.
In a statement, Beth Milito, Executive Director of NFIB’s Small Business Legal Center, criticized the rule, stating, “This rule is another costly hoop for small business owners to jump through. Small businesses will need to spend valuable time evaluating their workforce to properly adjust salaries or reclassify employees in accordance with this complicated mandate.”
Milito further added, “Main Street businesses do not have teams of lawyers or compliance officers on site to help implement changes every time a new government standard is enacted. They also don’t have the extra funds to arbitrarily increase wages when they are already doing everything in their power to provide the highest compensation and benefits they can for their employees.”
The NFIB Small Business Legal Center, which advocates for the rights of small business owners, is actively involved in numerous cases in federal and state courts, including the U.S. Supreme Court.
The new overtime rule has raised concerns among small businesses, who fear the additional financial and administrative burdens it may impose on them in the near future.
