New Federal Overtime Rules Could Cost Missouri Two-Million Dollars More
(Jefferson City, MO) — Lawmakers in Jefferson City say an additional two-million dollars in Missouri’s state budget this fiscal year must be included for a new federal overtime rule that begins in December. The Obama administration says anyone making up to 47-thousand dollars must be paid overtime for any time they work more than 40-hours a week. House Budget Committee Chairman Scott Fitzpatrick says the state of Missouri has plenty of employees who fall into the new overtime threshold. The current threshold is 24-thousand dollars. Supporters of the rule say it will help workers receive a fair wage and will help workers provide more for their families. Opponents of the rule say it will force some employers to cut full time workers’ hours and benefits.