A few minutes ago, the Senate Tax, Business and Transportation Committee gave a “do-pass” recommendation to House Bill 11, the paid family and medical leave bill. The vote was 6-4 along party lines, D’s in favor, R’s opposed. The measure provides six weeks of paid family medical leave financed by new payroll taxes on employees and employers. We are concerned that the taxes will be increased within a few years, as the fiscal projections for the fund are shaky. The measure also provides for a $9,000 “refund” to a parent upon adoption or birth of a child, along with 12 weeks of unpaid leave. This costs $200 million per year, is unfunded, and could be dumped on the backs of all taxpayers.
Terri Cole, president and CEO of the Greater Albuquerque Chamber of Commerce, said, “This bill makes New Mexico less competitive and attractive as a place to do business. It’s a real burden on our small businesses trying to cover for employee absences, as well as the added tax burden.”
Business community opposition to HB 11 is overwhelming across the state, yet proponents continue to ignore their input. The bill next goes to the Senate Finance Committee for consideration. More information will be provided in Monday’s Legislative RoundUp.