Is "floating holidays" a new term for vacation time? Sure yeah businesses will be completely fine with fewer stat holidays so employees will have to use their "floating holiday time" (aka vacation time) for when they want to visit their family on Christmas. This benefits non-Christians because they will no longer get time and a half if they work on Christmas! It's a win-win proposition! With businesses getting the win-win at the expense of all employees (bot Christian and non-Christian).

It's kinda like when they eliminated laws against shopping on Sunday. Before they did that retail workers had one day per week that they could make plans to be with their family. But now, retail workers have to be prepared to be called into work seven days a week. Can't make plans on Sunday anymore, but it's good to screw over all workers because it'll upset Christians.