FIGHTING FOR YOUR BUSINESS!
Exciting News for Small Business:
The JOBS Act 3.0 was passed in The House yesterday with a near unanimous 406-4 vote. The bill was originally introduced by PA Senator Pat Toomey (R) and unanimously passed the Senate in September of 2017. All PA lawmakers supported the act with the exception of Ryan Costello (PA-6th) and Bill Shuster (PA-9th) who did not participate in voting. The JOBS Act 3.0 is a collection of 32 individual pieces of legislation that will help small businesses, entrepreneurs and investors by reforming our capital markets. This will make it easier for startup companies to go public, attract investments to grow the company and to create more jobs and ease security regulations to increase investments.
The Chamber Opposes Radical Overtime Proposal:
Governor Wolf is proposing a regulation that will incrementally boost overtime for an estimated half a million workers by 2020. The Pennsylvania Labor Department’s proposal would boost the minimum required salary for managers and specialized workers from $455 a week (approximately $24,000) to $921 a week (approximately $48,000). With this new regulation, people who make under the minimum threshold would be required to be paid overtime or have a salary boost. There is a drastic difference between $921 a week in Philadelphia and Pittsburgh compared to $921 a week in a rural county. The Greater Lehigh Valley Chamber of Commerce is willing to support an increase from the approximate $24,000 however; The Chamber believes the approximate $48,000 (nearly two times as much) seems arbitrary. The mission of the GLVCC is to improve the economy and quality of life in the Lehigh Valley therefore we believe the proposed regulation will have a negative impact on businesses and employees within the Lehigh Valley. The GLVCC believes that if there is to be an implementation of a salary threshold it should be based on a geographic index such as the CPI-W Index. The Chamber also believes that this regulation will place undue financial burdens on businesses and reduce the scheduling flexibility for employees.
On August 20, The Chamber submitted our comments to the Pennsylvania Department of Labor and Indsutry. We joined a growing list of organizations that have submitted comments opposing Governor Wolf's proposed regulation. Our proposed comments can be read here.