Obama overtime rule could raise wages for 5 million

President Barack Obama is expected this week to propose giving millions of Americans a raise.

The White House is scheduled today to release the details of an overtime rule aimed at boosting wages for up to 5 million as soon as 2016, according to Politico.

The proposed rule would 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, would rise to $50,440.

Read more from Politico.