In his State of the Union Address, President Obama promised to push for progress on issues such as mandated paid leave.
But for his home state, the consequences of such a mandate would be disastrous.
Illinois’ economy would be decimated by mandated paid leave, losing as many as 13,223 jobs and eradicating $2 billion in economic output in 2016 alone, according to a new study released by NFIB.
The report, produced by NFIB’s Research Foundation’s Michael J. Chow, analyzes the impact a federal paid sick leave mandate—H.R. 932, also called the “Healthy Families Act,” would have on the economies of states such as Illinois.
Their impact? Catastrophic.
Through 2025, the state would lose as much as $4 billion in real economic output, along with 21,859 jobs.
“While a paid sick leave benefit may be desirable, these numbers reflect the cold, hard truth that faces every small business in this country: it is too expensive and jobs will be lost,” said NFIB/Illinois State Director Kim Clarke Maisch. “Our members work hard to provide the best benefit package they can afford. This one-size-fits-all approach is another attempt by government to get in the middle of a small business and their workers. What works for a multinational conglomerate might not work for the flower shop down the street.”
Read more of the report.