WASHINGTON, D.C. — Today, Patrice Onwuka, director of the Center for Economic Opportunity (CEO) at Independent Women’s Forum, issued the following statement in response to the federal court’s decision to overturn the Biden administration’s Department of Labor’s overtime rule:
“Today’s federal court decision overturning the Biden Department of Labor’s overtime rule is a win for small businesses. After years of battling high interest rates, high prices, and costly regulations, many are facing financial ruin. This rule could have pushed them to the brink.
“While the court pointed to the Biden administration’s overreach, IWF maintained that the DOL neglected to account for the increased labor, compliance, and litigation costs imposed on small businesses. As an organization with 30 all-female employees, IWF is particularly sensitive to the impact of regulations on small businesses. Women-owned businesses tend to be smaller than those owned by men.
“Even if well-intentioned, such a dramatic 55% increase in overtime pay would have unintended consequences. Consumers would pay the price of increased labor costs in higher prices. Workers, especially women, stood to lose pay, benefits, preferred classifications, opportunities and flexibility.”
Here is a link to Independent Women’s Forum’s public comment on the proposed overtime regulations.