20,660 a year to 50,440. The Senate Small Business Committee Held a hearing on the new labor rules. Senator david vitter chairs this hour 10 minute hearing. Good morning, everybody, and thanks for joining us today for the Senate Small Business and Entrepreneurship Committee hearing to examine the obama administrations proposal to more than double the current salary threshold under the fair labor standard acts overtime exemption for administrative, executive, and professional employees. Were going to hear from a Diverse Panel of experts and stakeholders on the impact this proposed rule would have an Small Businesses and organizations around the country. And i want to thank all of our witnesses for being here today. In previous hearings, this committee has focused on the need for Regulatory Reform in light of how federal agencies often issue new rules and regulations that cause extreme undue burden on Small Businesses. As one of the most controversial labor regulations pushed by the obam
Like labor, they may have to cut Critical Community services to reduce labor costs. This is really unacceptable, especially for rural and poor areas that rely on Different Services provided by nonprofits. After hearing from many concerned workers and Business Owners, i urged secretary perez to extend the Public Comment period to allow Small Business owners and employees the opportunity to examine the proposed rule and comment carefully. Shortly afterward, the office of advocacy wrote a similar Public Comment letter requesting a 90day extension of the comment period. Unfortunately, all of these requests were denied by secretary perez. I have serious concerns with president obamas proposed changes to overtime regulations which will negatively impact the ability of Small Businesses and other organizations to operate effectively. While the rule is expected to become finalized within the next several weeks, its crucial that the administration reconsider their onesizefitsall approach. Now le
Job cuts for the colleges employees. Senator alex ander joined senator tim scott to author s2707, the protecting workplace advancement and opportunity act, which would prevent the department of labor from finalizing president obamas proposed rule. I strongly support these efforts to move forward with the bill and want to commend their work on this important issue. Along with the Small Business Administrations Office of advocacy and members of congress from the house and senate, i have raised several concerns about the role and representation of Small Businesses throughout this rule making process. I storongly believe this proposl lacks adequate Economic Analysis and i was alarmed when the office of advocacy submitted comments that sharply criticized the mean in which the dol crafted the proposal. Their comments stated that the dols initial regulatory flexibility analysis was inaccurate and severely undercounted the number of Small Businesses that would be affectaffect ed by the rule. I
Youre going to put pressure on the economy. When i look at the things that the government does, i see regulations that say the haze regulation is being implemented in the west. You cant see the difference in the haze in the air. You have to have a computer to measure it. But using that regulation, goal miners being sent make 60,000 a year. And they are going to then be on assistance level. Do yall put out a fact sheet that says if you increase minimum wage, burger king is going to put kiosks in. So the poor people are never going to get into the labor market so the gap is going to increase because we have sent those jobs out of america that are on the low end of the scale that allow people to e get into the workforce. So i wonder if you all do that because if you are in charge, it seems like youd put out a fact sheet so people sitting on this side of the desk could actually have some idea of what effect policies would have. I guess the answer is no they dont put out a fact sheet. Not o
< next, labor secretary thomas perez discusses labor policies, minimum wage, and overtime pay. Democratic officials outlined plans for next months convention in philadelphia. After that, a discussion on u. S. Strategy in libya. Labor secretary thomas perez outlined president obamas labor policies including expanding anrtime pay during appearance at the National Press club on wednesday. The secretary is the son of immigrants from the Dominican Republic and has been named as a withtial running candidate Hillary Clinton. This is about one hour. Under perez, the Labor Department issued a rule that requires Financial Advisors to put customers first. Adding in all of, the three years that he has been in the Labor Department have been nothing if not attention grabbing. They seem to have grabbed the attention of Hillary Clinton. The wall street journal reported that perez is one of nine names on the short list as running mate for the presidency. Democratic immigrants, he chose a career in Publ