It has been decades since an election had such wide reaching economic implications as what transpired at the beginning of November. Not only in regard to the landmark Presidential result, but also in the strong push to a democratic majority in the house and senate. So what does this mean to you, the small business owner?
“It’s not too often you see an election with such major implications for employment issues,” said management attorney Michael S. Kalt, a partner at San Diego’s Wilson Petty Kosmo & Turner. “Obama campaigned he would work on a bipartisan basis. What we don’t know is whether we will see compromise or Democrats will move with the majority they now have.”
With the proposed economic stimulus package from President-elect Obama, it is clear that he will be opening up new jobs through government sponsored developement, however this will not directly affect small-businesses since most small to medium sized companies utilize skilled workers as opposed to manual laborers. However, a democratic majority, in the past, has been prone to raise minimum wage rates on a regular basis. This could affect your bottom line, and could cause further budget cutbacks at the present economic stage.
In addition to this, Law.com also projects the following changes will be made. Other Obama-supported workplace measures to be pushed include:
- Amending federal employment statutes to make it illegal for an employer to discriminate with respect to an individual’s actual or perceived sexual orientation.
- Requiring public and private employers with more than 15 employees to provide paid sick leave to their full- and part-time employees.
- Removing the current $300,000 cap on compensatory damages and punitive damages for violations of Title VII and the Americans With Disabilities Act.
- Narrowing the definition of “supervisor” under the National Labor Relations Act.
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