Minutes ago, Senator George Muñoz, chair of the Senate Finance Committee, announced that House Bill 11 will be reviewed by his committee at 9:30 a.m. on Saturday. The bill proposes six weeks of paid medical leave funded by new payroll taxes on both employees and employers, estimated to cost over $200 million annually. This amount is expected to increase in the future to keep the fund solvent.

The bill also includes provisions for 12 weeks of unpaid parental leave and an annual payment of $193 million in "refunds" to parents. However, there is no specific funding source for these payments, which could significantly impact the general fund.

Concerns have been raised about the potential negative effects on small businesses in New Mexico and the state's overall competitiveness.