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“Small Businesses Are Among the Big Losers” Under ObamaCare
After another disappointing jobs report, the House will vote tomorrow to repeal a massive barrier to small business job creation: the president’s health care law.
The unemployment rate has been higher than eight percent for more than three years and a majority of the American people now believes President Obama’s policies have made things worse. Jim Pethokoukis says “small business optimism tanked in June.”
None of this should be a surprise -- at every opportunity, President Obama has promoted policies that threaten small business job growth. Yesterday he touted (again) his small business tax hike. And laws like ObamaCare are driving up costs and making it harder for small business owners to hire. In fact, an op-ed in the Fiscal Times says small businesses are among the “big losers” under ObamaCare:
Lost in the hubbub surrounding the Supreme Court’s decision on Obamacare is that small businesses are among the big losers. …
“Sam Graves, chairman of the House Committee on Small Business, who held hearings on the matter, recently sent a letter to President Obama highlighting companies’ concerns. He quoted one restaurant owner who said, ‘The real irony here is that in the name of expanding health care coverage, Congress and the administration are making it more difficult for workers to enter and eventually be promoted in the workforce at a time when we need job growth.’ ...
“[M]ost small firms have weighed the benefits and costs of Obamacare and found it threatening – especially the health insurance tax and the employer mandate.”
The House Ways & Means Committee counts “21 tax increases” in the president’s health care law, including the big tax on small businesses who can’t afford government-mandated coverage.
ObamaCare also imposes a tax hike on medical device manufacturers (which the House voted to repeal) that Medical Progress Today says will impose “a 2.3% excise tax on sales, not profits. Consequently, many small, start-up medical device companies will wind up paying this tax even before they have any profits.” Translation: higher costs, fewer jobs.
The bill to repeal ObamaCare is H.R. 6079, and is the latest effort by the House to get government out of the way of small businesses job creation. Learn more about the Republican jobs plan at jobs.GOP.gov and click here for a full list of House-passed jobs bills being blocked by Senate Democrats.