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The maximum amount you can make and still be eligible for overtime will more than double under proposed new rules issued by the Obama White House Wednesday. The announced changes would have a profound effect on many of us.

FOX's Rachel Sutherland reports from Washington:

The Obama administration is expanding the annual salary threshold at which companies can deny overtime from around $23,000 to just over $47,000 a year.

Some businesses, concerned about their bottom lines, say they may have to convert some salaried workers to hourly workers to be able to comply. The new rules will apply to some four-million American workers.

In Washington, Rachel Sutherland, FOX News.

Follow Rachel Sutherland on Twitter: @SutherlandFOX