She's signed a petition asking Quinn to allow the City Council to vote on the legislation.
According to The New York Times, Quinn said in a statement Wednesday that she didn't believe it would be wise to implement the bill at this time.
She cited the current state of the economy, which she said threatened the survival of small businesses.
The bill would require most businesses with five or more employees to provide five days of paid sick leave per year.
Steinem was among some 200 influential women who signed the petition.
Quinn said she would continue to discuss the legislation in the context of the evolving economy.
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