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Report: Biden Mandate Could Devastate Economy

President Joe Biden rolled out the January deadline for the federal vaccine mandate on mid-size to large employers, but some business leaders argue the mandate will crush the economy.

The Job Creators Network, a group that represents businesses around the country, filed a lawsuit against Biden’s mandate Thursday, arguing it puts and undue burden on businesses as they struggle to recover from the COVID lockdowns.

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“The rule would exacerbate what’s already the worst labor shortage in recorded U.S. history by requiring employers to terminate some existing staff who wish not to get vaccinated or get weekly tests,” the group said.

“It will also shrink the pool of job applicants available for hiring. Associated staffing shortages would force businesses to reduce capacity and economic output, causing financial harm to businesses, employees, and the communities in which they are located.”

The group also points to the fines, $14,000 per violation, as well as the cost of keeping up with the requirements.

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“The rule also creates new expenses and potential liability for businesses—including costs associated with tracking employee vaccination and covering paid time off for staff to receive and recover from the vaccination,” according to JCN. “There is also a question whether the employer or the government will be liable if an employee suffers an adverse effect from the vaccine. Employers who don’t comply will face significant financial penalties. Many small businesses are already operating on slim profit margins in the current economy. These new costs will further strain profitability, reducing some employers’ ability to maintain competitiveness and provide workers with wage increases to match 30-year high inflation.”

Biden, though, has argued it will be good for the economy.

“Vaccination requirements are good for the economy,” Biden said. “They not only increase vaccination rates but they help send people back to work – as many as 5 million American workers. They make our economy more resilient in the face of COVID and keep our businesses open.”

Meanwhile, a political and legal contest could ensue. Twenty-four Attorney Generals have treated a lawsuit and Florida has already filed.

 

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