Last week, in an unusual 1 a.m. vote on Saturday, the House passed legislation that could dramatically impact small businesses and many ready mixed concrete companies. H.R. 6201 includes a provision requiring businesses with more than 50 employees and fewer than 500 employees to provide two weeks of paid sick leave at an employee’s full wages and additional 10 weeks of sick leave at two-thirds the employee’s pay rate. The bill attempts to reimburse companies for the expense incurred for this paid leave through refundable tax credits and refunds. Unfortunately, the proposed tax credits and refunds will not produce sufficient liquidity in time to deter business closures. Most small businesses do not have the liquidity or tolerance for debt necessary to front the payments and will face dire or terminal circumstances if they are required to pay these costs up front.
For more information, contact Andrew Tyrrell at atyrrell@nrmca.org.
National Ready Mixed Concrete Association