Overtime Rules for Salaried Employees

Barack Obama has asked/ruled/regulated/required a change in the rule that exempts salaried employees making more than $25,000 a year from being paid overtime for hours in excess of 40 a week.  Frankly, that being just a but more than $10 an hour, I kind of agree that the rules need to be updated.  But is thus something done by executive fiat?  Do we not have laws that are passed by majority vote to make such changes.