Millions of American employees will become eligible for overtime pay under new regulations proposed by the U.S. Department of Labor. "We anticipate that workers, on an annual basis, will get $1.2 to $1.3 billion in their pockets," U.S. Labor Secretary Thomas Perez said during a press call Tuesday. "Other workers," he said, "will have the gift of time." Perez said the new regulations will particularly apply to salaried low-level managers and supervisors, many of whom, he said, regularly work more than 40 hours - "the manager who was working 20 hours for free under the current rule." Industry groups pushed back against the proposal, saying that forcing...
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