WASHINGTON, D.C. -

President Barack Obama sent a presidential memorandum to the Department of Labor asking for new overtime rules. Obama wants workers who put in long hours with low pay to be eligible for time-and-a-half pay.

Currently salaried employees are not eligible for overtime if they make more than $455 a week or roughly $24,000 a year.

Advocates say about 10 million workers could benefit. Critics say it could burden small businesses.  But they disagree on jobs.

Supporters think companies would hire more people to avoid paying salaried workers overtime. Critics said they would not have enough money to create more jobs.
New rules doubling the threshold could take effect next year.