ESCAPE FROM NY: De Blasio’s ‘Paid Vacation Law’ to Cost Local Businesses $1.6 BILLION Per Year

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Less than one year after raising the minimum wage to $15 per hour, businesses in New York City may soon have to shell-out approximately $1.6 billion annually to comply with Mayor Bill de Blasio’s newest paid vacation proposal.

“Mayor Bill de Blasio’s plan is meant as a quality-of-life measure for the hundreds of thousands of workers who aren’t guaranteed paid time off. But companies say the cost of it would land on them, forcing reductions in work hours or even layoffs,” writes the Washington Examiner.

“The weight of all these burdens falls on small businesses,” Kathryn Wylde, president of the nonprofit Partnership told the Examiner. “Very often, small business owners don’t take vacations themselves because they can’t afford to, so it’s just grossly unfair.”

De Blasio’s office believes the new proposal would impact half a million workers throughout the Big Apple.

According to the plan, a small business with 10 employees earning $20 an hour would cost the company over $16,000 annually to comply with the guidelines.

Read the full report at the Washington Examiner.