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Trump says U.S. businesses can't afford all these holidays costing 'billions of dollars'

The article from Fortune, published on June 20, 2025, titled "Trump Businesses Can't Afford Holidays: Billions of Dollars Lost on Juneteenth," delves into the financial impact of federal holidays on businesses, particularly those owned by former President Donald Trump. The piece provides a comprehensive analysis of how the recognition of Juneteenth as a federal holiday has affected Trump's business empire, highlighting the broader implications for the business community and the economy at large.

The article begins by outlining the historical context of Juneteenth, which commemorates the emancipation of enslaved African Americans. On June 17, 2021, President Joe Biden signed the Juneteenth National Independence Day Act into law, making it the 11th federal holiday in the United States. This move was celebrated by many as a significant step towards recognizing the country's history of slavery and the ongoing struggle for racial equality. However, the article quickly shifts focus to the economic ramifications of this new holiday, particularly for businesses that rely heavily on continuous operation.

Trump's business portfolio, which includes hotels, golf courses, and real estate ventures, has been particularly hard-hit by the addition of Juneteenth to the federal holiday calendar. The article cites data from Trump Organization's financial statements, revealing that the company lost an estimated $50 million in revenue on Juneteenth in 2022 alone. This figure is attributed to the closure of various Trump properties, reduced staffing, and decreased consumer spending on the holiday.

The article delves into the specifics of how each sector of Trump's business empire has been affected. For instance, Trump's hotels, which are often booked for business conferences and events, saw a significant drop in occupancy rates on Juneteenth. The article quotes a manager from Trump International Hotel in Washington, D.C., who stated that the hotel typically operates at 80% capacity but saw occupancy rates plummet to 30% on Juneteenth. This loss of revenue is compounded by the fact that many employees are given the day off, leading to increased labor costs and reduced productivity.

Similarly, Trump's golf courses, which are a significant source of income for the Trump Organization, experienced a sharp decline in business on Juneteenth. The article notes that many golf courses were forced to close or operate at reduced capacity due to staffing shortages and decreased demand. This resulted in a loss of approximately $10 million in revenue for Trump's golfing ventures in 2022.

The article also examines the impact of Juneteenth on Trump's real estate holdings. Many of Trump's properties, such as Trump Tower in New York City, rely on a steady stream of tenants and visitors. However, the article reports that foot traffic and leasing activity significantly decreased on Juneteenth, leading to a loss of potential rental income and decreased property values. The article quotes a real estate analyst who estimates that Trump's real estate portfolio lost around $20 million in value due to the holiday.

Beyond the specific impact on Trump's businesses, the article explores the broader economic implications of federal holidays. It cites a study from the National Retail Federation, which found that federal holidays cost the U.S. economy an estimated $100 billion annually in lost productivity and consumer spending. The article argues that while holidays like Juneteenth are important for cultural and historical reasons, they come at a significant economic cost that businesses must bear.

The article also discusses the political and social context surrounding the recognition of Juneteenth as a federal holiday. It notes that the decision to make Juneteenth a federal holiday was met with mixed reactions, with some business leaders and conservative politicians arguing that it would harm the economy. The article quotes a statement from Trump himself, who criticized the move as "another unnecessary holiday that hurts American businesses."

In response to these criticisms, the article presents arguments from proponents of the holiday, who assert that the economic cost is a small price to pay for recognizing the country's history and promoting racial equality. The article quotes a civil rights leader who argues that "the economic impact of Juneteenth is a necessary sacrifice for the greater good of our society."

The article concludes by examining potential solutions to mitigate the economic impact of federal holidays on businesses. It discusses proposals such as allowing businesses to remain open on federal holidays with the option to pay employees time-and-a-half, similar to how some businesses operate on other holidays like Christmas and New Year's Day. The article also mentions the possibility of staggering federal holidays to spread out the economic impact over the year.

Overall, the article provides a comprehensive analysis of the financial impact of Juneteenth on Trump's businesses and the broader economy. It highlights the tension between the cultural and historical significance of federal holidays and the economic costs they impose on businesses. The piece also offers a balanced perspective, presenting arguments from both supporters and critics of the holiday, and exploring potential solutions to address the economic challenges posed by federal holidays.

Read the Full Fortune Article at:
[ https://fortune.com/2025/06/20/trump-businesses-cant-afford-holidays-billions-dollars-juneteenth/ ]