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No, whether you qualify for overtime is based on a bunch of factors including job responsibilities and industry. But there are two salary thresholds that basically ignore those rules.
At the lower end, if you make less than a certain amount, you qualify for overtime no matter what, regardless of whether your job would normally qualify. This is the one they're proposing increasing.
At the higher end, your employer doesn't have to pay you overtime no matter what. This one is six figures, though I don't remember the exact amount.
This actually makes sense to me, I think I'd like one American employment law please.