Legislative Changes in 2021
Each year, a number of changes come into effect from the federal government. Some may not specifically affect you, whereas others could throw questions into your current plans and practices. Here we will take a quick look at some pertinent changes for 2021.
Minimum Wage Increase
20 States are set to raise the minimum wage in 2021. The Federal minimum wage hasn’t increased from $7.25 since 2009, but each State can set its own. For example, as of January 1st 2021, Californians are eligible to make a minimum of $14.00 per hour. Minimum wage increases are taking place in: Alaska, Arizona, Arkansas, California, Colorado, Florida, Illinois, Maine, Maryland, Massachusetts, Minnesota, Missouri, Montana, New Jersey, New Mexico, New York, Ohio, South Dakota, Vermont, Washington. For several of these States the increases will take place over many years.
2. Family Leave Act has not been extended for most states
Due to the coronavirus, employers were legally obliged to provide paid sick leave along with expanded family and medical leave if an employee met certain Covid-related qualifiers. The new Consolidation Appropriations Act extended to pay to March but only voluntarily. Employers are not required to pay employees for covid related leave after January 1.
3. New Rights for Pregnant Women
In Tennessee specifically, new legislation makes the workplace more comfortable for pregnant women. This will include extra restroom breaks and an abundance of available drinking water.
4. Emergency CPR Information
Previously not allowed in all Tennessee counties, emergency workers and 911 operatives can now give CPR instructions over the phone. Almost 350,000 people die from cardiac arrests each year, and in almost all cases the emergency services are called. This could make all the difference in some emergency situations where fast-acting is the key.
5. More Support for Veterans
In 2021, the Department of Veterans Services in Tennessee will undergo mental health support training. Veterans will then be able to freely access these services with the goal of suicide prevention, a prevalent problem among veterans currently.
Each state has varying updates and this list is not exhaustive of the changes coming into place in 2021. Contact a financial advisor or seek other professional help in order to understand exactly what the changes mean for you and your finances.