FOR IMMEDIATE RELEASE
Contact:
Jenna Weisbord, 310-995-0839
jweisbord@franchise.org
@franchising411
IFA ISSUES STATEMENT ON INJUNCTION HALTING HARMFUL DOL OVERTIME RULE
WASHINGTON, Nov. 22 – IFA President & CEO Robert Cresanti issued the following statement following a ruling by a Texas judge to issue a preliminary injunction halting the Department of Labor’s overtime rule. The rule was set to take effect Dec. 1, doubling to $47,476 the salary threshold under which virtually all workers receive time-and-a-half pay whenever they work more than 40 hours in a given week.
“Today’s ruling is a serious and significant victory for the rule of law. While a modest increase in the overtime threshold would have been appropriate, many franchises were faced with difficult and costly decisions about how to reclassify their greatest assets – their employees.
“Now, franchises are breathing a collective sigh of relief. Franchise owners who had been facing significant costs and questions about the impact the overtime rule was creating for compliance with an unreasonable new threshold and automatic increases.
“Moving forward, IFA looks forward to working with the Trump administration and congressional leaders to ensure additional regulations that exceed statutory authority are addressed in short order.”
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About the International Franchise Association
Celebrating 56 years of excellence, education and advocacy, the International Franchise Association is the world’s oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations and educational programs to protect, enhance and promote franchising and the more than 733,000 franchise establishments that support nearly 7.6 million direct jobs, $674.3 billion of economic output for the U.S. economy and 2.5 percent of the Gross Domestic Product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees and companies that support the industry in marketing, law, technology and business development.
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