Millions of U.S. workers may now become eligible for overtime pay under an overhaul of wage rules announced by the Biden administration today.
The rule, which would make workers earning up to $55,000 a year eligible for overtime, is intended to reverse four decades of reducing the number of workers qualified to earn overtime pay. As Capital & Main reported in a series of stories last year, overtime pay has steadily eroded, so that the percentage of workers eligible for overtime is now a fraction of what it was in the 1970s.
