IFA Statement on Department of Labor Proposed Overtime Rule
WASHINGTON, DC – The International Franchise Association (IFA) today released the following statement on the U.S. Department of Labor (DOL’s) notice of proposed rulemaking on overtime pay.
“Today’s rule comes at the wrong time for small businesses who continue to struggle in the post-pandemic economy with continued inflation and labor shortages, and as wages are at an all-time high,” said Michael Layman, IFA senior vice president of government relations and public affairs. “Franchised businesses already pay higher wages and offer better benefits than their nonfranchised counterparts on average, and we look forward to sharing our members’ perspectives on this new, unnecessary regulation.”
The proposed rule is available here.
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Celebrating over 60 years of excellence, education, and advocacy, the International Franchise Association (IFA) 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 approximately 790,492 franchise establishments that support nearly 8.4 million direct jobs, $825.4 billion of economic output for the U.S. economy, and almost 3 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.