UPDATE: Earlier (see below) we ventured that Monday, May 16, might see the arrival of the new overtime rule, but several sources are now indicating it will be tomorrow, Wednesday, May 18. Stay tuned.
Growing speculation has it that the Department of Labor (DOL) and the Obama administration will issue their final rule on overtime exemptions on Monday, since May 16 is the last day that a rule would not be subject to repeal under the Congressional Review Act (CRA) should the Republicans take back the White House in 2017.
Terms of the CRA mandate that any rule issued within 60 days of the close of Congress will be reviewable for 60 days when the incoming Congress convenes.
Beating the May 16 deadline means that President Obama could veto any rollback attempt.
The long-discussed and -awaited rule will escalate the annual salary to be exempt from overtime pay from the current $22,660 to anywhere from $47,000 to $52,000.