Political Quotes

“Mr. President, as I have said before, when it comes to the actions of government, it is often legislation that grabs the biggest headlines. But it is equally important to focus on what a Presidential administration is doing with its regulatory power--something I was reminded of again last week when I signed on to a letter headed by Senator Cassidy on the Biden administration's proposed new overtime rule. Because in the modern regulatory state, Presidents have a tremendous amount of power to affect our economy and Federal policy through regulation. Today, I would like to take a couple of minutes to talk about some labor regulations coming out of the Biden administration that are likely to prove detrimental to workers, business owners, and our economy. Let me start, as I mentioned, with the Biden administration's proposed new overtime rule. This proposal would impose a 55-percent increase in the exemption threshold for providing overtime pay for covered employees. Currently, employers are required to pay covered employees making less than $35,568 per year overtime if they work more than 40 hours per week. Under the Biden administration's proposed new rule, employers would be required to pay overtime to covered employees making less than $55,068. As I said, a massive 55-percent increase in the exemption threshold. So what would be the effects of this proposed rule?…”