New York City has long been known for its iconic skyline and culture of entrepreneurship. But optimistic small business owners may soon find that the Big Apple is no longer a place where they can pursue the American dream.

Mayor Bill de Blasio’s latest legislation would make his city the first in the nation to require that businesses with five or more employees offer two weeks of paid vacation time per year. While progressives are lauding the plan as a step forward for workers’ rights, the reality is that this one-size-fits-all mandate is a move that will shackle the city’s small business sector and harm the very workers it’s supposed to help.