What do you think of the new federal regulations that require businesses to pay overtime (time and a half) to salaried workers making less than $47,476 annually?

Yes, I think it should apply to salaried workers as well.  Illinois law not only requires employers to pay its workers at least $8.245 per hour, but also “time and a half” for all hours worked after the first 40 hours in a given week.  There is also the Fair Labor Standards Act, which is federal law, that requires that covered employees be paid time and a half for work over 40 hours a week, and also protects employees from retaliation, such as being demoted or fired, for asking about or suing for lost wages.  Federal and state overtime laws applied to the majority of employees, but excluded some Executive, administrative and professional employees, sales people, mechanics, and workers in agricultural fields.   Private employers cannot offer workers “comp time” in place of overtime wages or require workers to perform tasks “off the clock” to get around paying them their due.   It is considered wage theft for employers to not comply with these laws, and employees can sue their employers without fear of retaliation says the Chicago Overtime Law Center, who can be contacted by phone at 312-869-4095 for a free and confidential consultation; they represent clients in state and federal court.