US President Obama planning an expansion of workers eligible for overtime

President Barack Obama will release an overtime rule aimed at raising wages for 5 million people as soon as 2016

This was out a while ago, doing a bit of a catch-up:

Via Politico, quoting 'sources familiar with the plans'

• The proposed rule will more than double the salary level under which virtually all workers qualify for overtime pay whenever they work more than 40 hours in any given week. That threshold, now $23,660, will rise to $50,440.
• Obama will announce the proposed regulation formally on Thursday ... but details will begin to be released by the White House on Tuesday
• Labor Secretary Tom Perez will hold a press call about the proposed rule Tuesday morning

More detail at the link

It isn't a done deal

Wage gains, if they come about, could add to inflation pressures and prompt earlier Federal Reserve hikes, with implications for the USD.