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Illustration: Eniola Odetunde/Axios

More workers will be eligible for overtime pay when a federal law kicks in on Jan. 1.

Why it matters: The law will give a raise to some 1.3 million employees when they work more than 40 hours a week. That's short of the 4 million who would have gotten overtime pay had a more aggressive Obama-era law gone into effect.

What's new: Employees who make less than $684 per week (or $35,568 per year) are now mandated to get paid for overtime, with the exception of managers and professionals like lawyers or accountants. That maximum is up from $455 per week (or $23,660 per year), which was the threshold set in 2004.

  • Workers in states like California and New York won't be affected since laws there mandate overtime for workers who make even more than the new federal maximum.

Go deeper:

Go deeper

55 mins ago - World

U.S. strikes Iran-backed militia structures in Syria

President Biden at the Pentagon on Feb. 10. Photo: Alex Brandon - Pool/Getty Images

The United States on Thursday carried out an airstrike against facilities in Syria linked to an Iran-backed militia group, the Pentagon announced.

The state of play: The strike, approved by President Biden, comes "in response to recent attacks against American and Coalition personnel in Iraq, and to ongoing threats to those personnel," Pentagon press secretary John Kirby said in a statement.

Senate parliamentarian rules $15 minimum wage cannot be included in relief package

Photo: Al Drago/Getty Images

The Senate parliamentarian ruled Thursday that the provision to increase the minimum wage to $15/hour cannot be included in the broader $1.9 trillion COVID relief package.

Why it matters: It's now very likely that any increase in the minimum wage will need bipartisan support, as the provision cannot be passed with the simple Senate majority that Democrats are aiming to use for President Biden's rescue bill.

Dave Lawler, author of World
1 hour ago - World

Biden's big Saudi reset

Mohammed bin Salman. Photo: Ryad Kramdi/AFP via Getty

President Biden spoke with Saudi Arabia's King Salman this evening ahead of the release of a CIA report expected to implicate the king's son, and the kingdom's de facto ruler, in the murder of a U.S.-based journalist, Jamal Khashoggi.

Why it matters: In one month, Biden has ended support for the Saudi war effort in Yemen, frozen a large arms deal and snubbed Crown Prince Mohammed bin Salman (MBS) by declining to speak with him directly.