Biden adminstration finalizes rule to grant overtime for millions more salaried workers

The Biden administration has finalized a new rule set to make millions of more salaried workers eligible for overtime pay in the U.S. The move marks the largest expansion in federal overtime eligibility in decades. Starting July 1, employers will be required pay overtime to salaried workers who make less than $43,888 a year in certain executive, administrative and professional roles, according to the Labor Department. That cap will then rise to $58,656 by the start of 2025. The current overtime eligibility threshold is $35,568, which was set under the Trump administration in 2019 — just three years after a more generous Obama-era effort was ultimately scuttled in court.