Obama apparently tried to do this and had to walk it back due to a supreme Court ruling.
however, the giant institution I worked for at the time was already too far into their transition plan to accommodate the new rule, so they raised up all qualifying* positions.
a key feature of that transition plan was based around the exception to overtime protections for 3 professions: doctors, lawyers and teachers*.
(one of these things is not like the others!)
yes, my former employer reclassified a metric shitload of consultant/community organizer positions into "teachers" and launched a big campaign to "recognize" the important educational value of their work pretending this campaign had nothing to do with the minimum salaried worker rule change.
anyway, just a little context to this.