The U.S. Department of Labor issued a final rule to adjust civil monetary penalties for inflation, as required by the Federal Civil Penalties Inflation Adjustment Act. This rule, effective January 15, 2025, ensures that penalties keep up with inflation, applying a cost-of-living adjustment multiplier based on changes in the Consumer Price Index. The adjustments apply to penalties assessed after the effective date, maintaining the penalties' deterrent effect. This regulation does not consider public comments due to the non-discretionary nature of the inflation adjustments mandated by the Act.
Simple Explanation
The government is making sure that the fines people might have to pay if they break certain rules are still fair, even as things cost more over time. They use a special formula to change these fines each year, so they still make sense and stay fair.