President Obama is heading to Michigan to talk wages today, but it’s his own health care law that is slashing the take-home pay of those who can least afford it by forcing employers to cut jobs and hours or risk triggering the law’s 30-hour penalty. With the House acting to increase wages this week, here’s a handful of facts to keep in mind ahead of the president’s remarks:
- According to an analysis by the Hoover Institution, the 30-hour rule puts 2.6 million Americans earning less than $30,000 a year at risk of having their hours and their wages cut. Of that 2.6 million, 63 percent are women, nearly 90 percent do not have a college degree, and 60 percent are young Americans ages 19 to 34.
- Investor’s Business Daily has a running tally of more than 400 employers that have already cut hours because of ObamaCare. Most recently, a North Carolina school district announced it would reduce hours for 200 part-time workers, including substitute teacher Jordan Banjo who says, “I need the money. I need to work. I’m willing and able to work, and now they’re telling me you can only work for so long.”
- A survey conducted by Duke University found that “nearly half of U.S. companies are reluctant to hire full-time employees because of” ObamaCare, and “more than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”
- Median wages are already down on the president’s watch and three-quarters of Americans are living paycheck to paycheck. The 30-hour rule could slash wages by as much as an additional 25 percent.
- The non-partisan Congressional Budget Office estimates that the president’s health care law “will cost the nation the equivalent of 2.5 million workers in the next decade,” The Hill reports, further eroding a workforce that is already hovering near 30-year lows.
House Republicans continue to be focused on jobs, and will vote this week to help provide relief to middle-class families with the Save American Workers Act (H.R. 2575), common-sense legislation by Rep. Todd Young (R-IN) that repeals the 30-hour trigger for ObamaCare’s employer mandate tax, and restores the 40-hour work week to increase workers’ wages. To learn more about what we’re doing to build a stronger economy and a better future, go to speaker.gov/jobs.