WASHINGTON: ‘ Obama Makes 5-Million more Americans liable for Overtime Pay ‘

#AceFinanceNews – Featured Report:WASHINGTON:June.30: The Obama administration has announced new rules that will boost the salary threshold for time-and-a-half overtime pay from the current $23,660 to $50,440.

Any worker who makes as much or below the new total and works 40 hours a week will automatically qualify, according to US Department of Labor guidance.

“Right now, too many Americans are working long days for less pay than they deserve,” President Barack Obama wrote in a Huffington Post Op-Ed announcing the change.

The regulatory change restores the overtime salary threshold to approximately where it was in 1975, based on inflation adjustments.

US Labor Secretary Thomas Perez said that the rule change will result in a collective $1.2 billion in extra compensation for workers who are newly eligible for overtime pay.

The rule changes also address the total annual compensation a worker can make to avoid being considered a highly compensated employee. The changes boost that amount to $122,148 a year for a full-time salary worker.

“This week, I’ll head to Wisconsin to discuss my plan to extend overtime protections to nearly 5 million workers in 2016, covering all salaried workers making up to about $50,400 next year,” Obama wrote in the Op-Ed. “That’s good for workers who want fair pay, and it’s good for business owners who are already paying their employees what they deserve ‒ since those who are doing right by their employees are undercut by competitors who aren’t.”

The rule change is facing backlash from conservatives and business lobbies. The National Retail Federation said that increased overtime will “add to employers’ costs, undermine customer service, hinder productivity, generate more litigation opportunities for trial lawyers and ultimately harm job creation.”

Opponents are expected to challenge the plan in court or in Congress, which could unravel the rule change via appropriations measures, according to the New York Times.

“Supporters of these regulations say they want to increase Americans’ take-home pay, but these sweeping changes to the rules could mean anything but,” Angelo Amador, senior vice president of labor and workforce policy at the National Restaurant Association, said in a statement.

Cecilia Muñoz, White House director of the Domestic Policy Council, said the rule changes are “totally within the [Labor] Department’s regulatory authority.”

“We believe we have more than sufficient support for the rule to go final and be implemented,” she said, according to ThinkProgress.

Democratic presidential candidates Hillary Clinton and Bernie Sanders praised the decision on social media. Fellow aspirant Martin O’Malley, former governor of Maryland, has previously called for a change to overtime-pay regulations.

The proposal will be subject to a 60-day comment period once it is officially filed in the Federal Register.

The rule change comes following an executive order Obama announced in March, in which the administration pledged to update overtime laws in the Fair Labor Standards Act.

If the rule is finally enacted, economists think employers will scale back employee hours to avoid overtime pay, the New York Times reported.


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#barack-obama, #overtime-pay, #rule-change, #rule-changes, #the-obama-administration, #us-department-of-labor

` US Setting-Up $5 Billion Terrorism Partnership Fund ‘

#AceFinanceNews – WASHINGTON – May 28 – US is setting up a $5 billion “terrorism partnership fund” to help other countries push back against radical extremists, Secretary of State John Kerry said on Wednesday.

He told “CBS This Morning” that US foreign policy needs to reflect a“rapidly changing, more complex world where terrorism is the principal challenge.” 

In morning interviews, Kerry also defended President Barack Obama’s decision to terminate America’s combat role in Afghanistan by the end of the year, AP reported.

AP – Washington Post


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#afn2014, #afghanistan, #associated-press, #barack-obama, #cbs-this-morning, #foreign-policy-of-the-united-states, #john-kerry, #terrorism, #united-states

#US : “Obama `Threatens French Firms’ over `Iran and Business Investment’

#AceFinanceNews says `Obama threatens French firms over Iran business’ according to Press TV – US President Barack Obama has threatened tough action against French companies looking for business opportunities n Iran amid hopes of an easing of sanctions imposed on Tehran.

François Hollande

François Hollande (Photo credit: Wikipedia)

In a joint press conference with French President Francois Hollande in Washington on Tuesday, Obama said “Businesses may be exploring: ‘

Are there some possibilities to get in sooner rather than later if there is an actual agreement to be had?”

 “They do so at their own peril right now, because we will come down on them like a ton of bricks,” Obama threatened.

A 116-delegation of French businessmen travelled to Tehran from February 3 to 5 to explore trade opportunities in light of the prospect of sanctions relief on Iran following last month’s implementation of a nuclear deal between Tehran and world powers -Russia, China, France, Germany, the US and the UK.

Hollande acknowledged that he could not control travel by French firms, but noted that anti-Iran sanctions will remain in effect before a final deal is reached on Iran’s nuclear issue.

So companies just make their decisions when it comes to traveling, but I certainly let them know that sanctions were in force and would remain in force,” Hollande said.

The French delegates, which visited Iran, represented various sectors of its industry including its banking, telecommunications and shipping sectors.

France’s oil giant Total, oil and gas services provider Technip as well as GDF Suez voiced their readiness to invest in Iran as soon as sanctions are lifted.

Under a landmark deal with six world powers, Iran agreed to limit certain aspects of its nuclear activities as a confidence-building measure, and the world powers undertook to provide Iran with some sanctions relief and release more than USD 4 billion of Tehran’s oil revenues.


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#acefiinancenews, #barack-obama, #france, #gdf-suez, #iran, #president, #tehran, #united-states

If Barack Obama doesn’t approve the Keystone pipeline, another president will, says Stephen Harper


#acefinancenews, #barack-obama, #keystonexl, #oil, #pipeline, #stephen-harper

The Real Cost for Eligible Immigrants to Obtain US Citizenship

English: The logo of U.S. Citizenship and Immi...

English: The logo of U.S. Citizenship and Immigration Services (English) Español: El logotipo del Servicio de Ciudadanía e Inmigración de los Estados Unidos (Inglés) (Photo credit: Wikipedia)


DREAM Act (Photo credit: xomiele)

Despite all the fanfare over the Obama Administration’s announcement of deferred action status for DREAM eligible youth, it hasn’t actually begun. Eligible applicants must fill out a form to get the deferred action status for themselves, and that process will commence on August 15. And US Citizenship and Immigration Services announced yesterday that the immigrants will have to pay the US government $465 for the privilege.

Applicants must meet a number of other requirements, including certification that they have lived continuously in the US for five years, beyond their age and lack of a criminal record and student or military status.

via Application for Deferred Action for DREAM-Eligible Immigrants Will Cost $465 | FDL News Desk.

#afterwardsness, #barack-obama, #dream-act, #immigrants, #immigration, #obama-administration, #united-states, #united-states-citizenship-and-immigration-services, #us-citizenship