Watch Fox Business Get Schooled On The Benefits Of Overtime Expansion
Millions Of Workers Will Be Guaranteed Overtime Pay Thanks To Updated Overtime Rule
Published
A Fox Business panel discussion about the Department of Labor (DOL) releasing new rules on federal overtime pay regulations was caught off guard when one guest correctly pointed out that low-wage employers currently enjoy unfair “corporate welfare,” which subsidizes their business model. The new DOL stipulations mandate that employers pay overtime to qualifying salaried workers who make up to $913 per week, or $47,476 per year, which Fox Business contributor Elizabeth MacDonald and Host Stuart Varney predictably claimed would “cost business” and potentially destroy jobs. Varney quickly lost control of the conversation to Barron's editor Jack Hough who praised the new rule while arguing that a lack of overtime protections amounts to letting low-wage employers “reach[] both hands into my pockets” to pay employees whose poverty wages force them to seek government assistance. From the May 18 edition of Fox Business' Varney & Co.: