Small business owners in Minnesota are worried they might have to close their doors over cost concerns once a new billion-dollar paid leave takes effect in 2026.
brace for economic impact after the state passed a billion-dollar paid leave law, prompting concerns that the cost might be too much to bare. during"Fox & Friends,""We have to with the sick and paid time off, we have to accrue… up to 48 hours every year for each employee that we have, which will be an expense to our financial statement and make things very difficult," Jerrilynn told Joey Jones Tuesday.
But while proponents of the law have backed the measure citing equality in the workplace, small business have been concerned about the financial impact it will have on their bottom line. Employers can deduct half of their premiums from workers' wages. The law contains protections against retaliation for workers who take the time off. It also includes premium relief for smaller companies.
"We have 20 people. How do you expect us to pay for this and have an employee… come in and sub because it could be up to five months?" Jerrilynn said."There is a million different routes."
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