Tags: Barack Obama | Paul Ryan | Paul Ryan | Vows | Fight | Obama | Overtime Rule

Ryan to Fight Obama's Overtime Rule

Image: Ryan to Fight Obama's Overtime Rule
(Getty Images)

By    |   Thursday, 19 May 2016 12:56 PM

Calling it an "absolute disaster for our economy," Speaker Paul Ryan said he vows to fight President Obama's new policy which would expand the amount of people entitled to receive overtime pay.

"This regulation hurts the very people it alleges to help," Ryan posted on his website. "By mandating overtime pay at a much higher salary threshold, many small businesses and non-profits will simply be unable to afford skilled workers and be forced to eliminate salaried positions, complete with benefits, altogether."

The White House estimates it will extend overtime to at least 4.2 million workers, currently excluded, by raising the salary threshold to $47,476, more than double the current threshold of $23,660.

The new rule is set to take effect Dec. 1.

Not without a fight, promises Ryan.

"For the sake of his own political legacy, President Obama is rushing through regulations — like the overtime rule — that will cause people to lose their livelihoods," Ryan wrote. "We are committed to fighting this rule and the many others that would be an absolute disaster for our economy."

© 2017 Newsmax. All rights reserved.

   
1Like our page
2Share
Politics
Calling it an "absolute disaster for our economy," Speaker Paul Ryan said he vows to fight President Obama's new policy which would expand the amount of people entitled to receive overtime pay.
Paul Ryan, Vows, Fight, Obama, Overtime Rule
177
2016-56-19
Thursday, 19 May 2016 12:56 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved