The Senate Tax, Business and Transportation Committee has given a "do-pass" recommendation to House Bill 11, the paid family and medical leave bill. The vote was 6-4, with Democrats in favor and Republicans opposed. This measure proposes six weeks of paid family medical leave funded by new payroll taxes on employees and employers. Concerns have been raised that these taxes might increase in the future due to uncertain fiscal projections for the fund.
Additionally, the bill offers a $9,000 "refund" to parents upon adoption or birth of a child, along with 12 weeks of unpaid leave. The cost of this initiative is $200 million per year and remains unfunded, potentially impacting taxpayers.
Terri Cole, president and CEO of the Greater Albuquerque Chamber of Commerce, commented on the implications of the bill: "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."
Despite significant opposition from the business community across New Mexico, supporters of HB 11 continue to push forward without addressing their concerns. The bill will now proceed to the Senate Finance Committee for further consideration. More details are expected in Monday's Legislative RoundUp.
