WASHINGTON, 2014-3-13 — /EPR Retail News/ — The National Retail Federation issued the following statement from Senior Vice President for Government Relations David French in response to reports that President Obama will propose a change in federal overtime rules:
“We are skeptical of the politics of the proposal and certainly of the timing. This is not an issue that has been percolating – it has been a matter of settled law for 10 years and seems to be working. We think this is politically motivated.
“If implemented, this would have a significant job-killing effect. The last time these rules were looked at, an update was desperately needed because of the uncertainty around overtime rules and the bonanza it was creating for trial lawyers. There is no evidence that it is desperately needed now. Employers who carefully considered the proper classification of their workforce 10 years ago would have to go through that process all over again, and would again be faced with uncertainty, administrative burdens and costs that are contrary to the goal of job creation.
“At the very minimum, any new regulations on overtime need to go through the full, formal rulemaking process and be thoroughly debated with input from all sides.”
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. www.nrf.com
Contact: J. Craig Shearman or Bethany Aronhalt (855) NRF-PRESS press@nrf.com
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