Health Insurance Tax to Result in Thousands of Pa. Job Losses

Date: May 08, 2014

Related Content: News State Pennsylvania

HARRISBURG, (May 6, 2014) – The National Federation of Independent
Business (NFIB) today warned that 4,700 private sector Pennsylvania jobs would
be lost as a result of a tax imposed by the Affordable Healthcare Act. Speaking
to members of the North American Association of Inventory Specialists in
Pittsburgh, NFIB Pa. Executive State Director, Kevin Shivers, said the
Pennsylvania economy would also see a drop of $790 million in business sales.

“The so-called HIT, or Health Insurance tax, is giving a one-two
punch to Pennsylvania’s small businesses and their employees,” said Shivers. “Even
worse, the tax stunts the growth of jobs and suppresses the state’s economy.” 

The NFIB Research Foundation conducted the study which found the
health insurance tax is expected to result in the loss of between 152,000 and
286,000 jobs nationally and hit small businesses the hardest (75%).  The study uses a widely accepted regional
economic model from REMI, Inc. which has been employed by the federal
government, universities and private industry to forecast the effect of legislative
policies. 
 

An earlier study by the Congressional Budget Office (CBO) predicted
the health insurance tax will result in a $5,000 increase in the cost of
healthcare for families over the next ten years. 

The NFIB Research Foundation study can be found by visiting www.NFIB.com/hitcost

 

 

 

 

Related Content: News | State | Pennsylvania

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