So the house of representatives passed a bill 223-204 that essentially eliminates overtime pay. I get why, overtime pay is a disasterous policy. No one (hyperbole) ever really gets paid overtime anyway. You either work an artificially low number of hours capped by this policy or work two part time jobs. It also has far too many loopholes that create the wrong incentives for employers. It is a complete failure. If its goal was to stop low income workers from working 60 hour weeks, its failed. If its goal was to get employees more money then it has REALLY failed. For every person who is getting paid overtime, ten people are shackled to low hour part time jobs (hyperbole).
But, with all that being said, the proposal doesnt seem much better. Essentially, if you work 45 hours you will only get paid for 40 hours and get 5 hours of paid vacation time later BUT the employer can deny when that is if the business is really busy. Unused hours at the end of the year are supposedly paid back to employeee.
Any thoughts from the bogosity forum?
This sounds lime moving towards something we have here in Ontario called Forward Averaging. Essentially, it allows hours over the maximum before overtime rates kicked in (44 hours per week) can, if the employer and employee agree, can be applied to the next pay period at the normal rate instead of being paid at overtime rate. If you have a job where the hours worked can vary wildly from week to week, this can help smooth out your income. If you work a lot of hours, you accumulate paid days off.