The U.S. is the only industrialized nation without any national paid leave policy, yet 75% of U.S. voters across party lines support a national paid family and medical leave policy. Paid leave is being cut out of Build Back Better, and there is an economic impact.
“What it means is that millions of people are going back to work every single day, while they're still recovering from a serious illness like cancer or recovering from childbirth,” says Day. “They're also missing the moments with their families when they really need to be there, because they're making these tough trade-offs between a paycheck or being at their loved one's bedside.
Paid leave is not only a social issue; it’s an economic imperative. In fact, a national paid leave program could add $28.5 billion annually to the economy, according to the. One of the ways it could help economic recovery is by enabling recipients of paid leave to spend money on goods and services to help funnel money back into the economy. It would also enable people to stay in the workforce rather than have to quit their jobs.
“Paid leave will help the economy both directly and indirectly,” says Monifa Bandele, interim president and CEO of TIME’S UP. “It helps directly by putting much-needed income in workers’ pockets when they are on leave caring for loved ones so they aren’t chasing between financial security and their families. We estimate a 12-week paid leave program would contribute $19.1 billion annually in this way.
Offering paid leave can also help small businesses better compete in the war for talent. “Most small businesses want to provide paid leave to their employees, but can't afford to,” says Bandele. “They don't have big human resource or accounting departments. Paid leave policies help level the playing field between wealthy corporations that provide paid leave to their higher-salaried employees and small businesses. This helps small businesses recruit and retain dedicated employees.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Build Back Better Framework: The Good, the Bad, the UglyAfter a months-long negotiation with his party’s most moderate senators, Joe Biden unveiled a framework for a slimmed-down version of his Build Back Better agenda on Thursday. EricLevitz writes on its good, bad, and ugly aspects
Read more »
Opinion | Biden’s Build Back Better proposal gives away the Democrats’ gameOpinion by Henry Olsen: Biden’s Build Back Better proposal gives away the Democrats’ game
Read more »
What's in Biden's 'Build Back Better' framework?This is what's inside President Biden's 'Build Back Better' framework.
Read more »
Build Back Better Act would close tax loophole for crypto investorsBitcoin, ethereum, dogecoin and other cryptocurrency transactions would be subject to wash sale rules if the latest version of Democrats' plan succeeds.
Read more »
SAG-AFTRA President Fran Drescher Supports Build Back Better Bill: “There Is Too Much Poverty Everywhere”With President Joe Biden’s Build Back Better legislation still pending in Congress, SAG-AFTRA tonight released a statement from its president, Fran Drescher, saying that she supports the bill. &82…
Read more »
There's Never Been a Better Case For Paid Parental Leave — and We Still Won't Get ItYes, the pandemic has been particularly hard on women, but that's simply because we as a society have been particularly hard on women long before COVID ever came to our shores.
Read more »