I question this validity a lot. Most people I know try to sync company holidays with their vacations.
There's a difference between "I decided to go to Cabo that day, so I didn't get to vote in person", and "the last three people who asked for some time to go vote were quickly fired for bullshit that everyone here knows was just because they wanted to go vote. Guess I'll just stop voting."
[I doubt it's banks, government services, and companies that love to add extra holidays that people don't travel on holidays]