More pay is on the way for millions of Americans. The White House just announced new overtime rules.
"It's going to be a great benefit for me and my family so I am excited for that," said Vai Pine, a documentation and verification specialist in Las Vegas.
Pine is one of millions of Americans who will be affected by the new overtime rules. She typically works 50 to 60 hours a week, so getting overtime pay will mean a lot of extra money in her bank account.
"I mean not only will it help me with school but it will help me with my parents (paying) off their mortgage. I think it's really good for everyone out here in Vegas," said Pine.
Under the new rules anyone making a salary of less than $47,476 a year automatically qualifies for time and a half pay when they work more than 40 hours a week. That's almost double the current $23,660 threshold.
While workers are cheering, small business owners are take a close look at their bottom lines.
"We have to be sustainable, and so it's either bite the bullet now and go out of business or stay creative and stay sustainable so these families have jobs and careers," said Shaundell Newsome, founder of Sumnu Marketing in Las Vegas.
Newsome said he'll look for ways to keep employees from working more than 40 hours a week, like hiring more part-time workers. Newsome and many business owners will have to look at other ways to cut costs.
"We are going to pass that along to the consumer, we are going to have to raise our rates, raise our prices, in some cases, other small business owners are going to decide that hey we are not going to do any overtime," explained Newsome.
The new overtime rules take effect Dec. 1, 2016.
