Congressional leaders and the president are currently promoting a revised healthcare proposal that would leave small business with higher health insurance costs and increased taxes. After more than a year of intense but not always inclusive debate, the Senate-passed healthcare bill, H.R. 3590, represents the latest and perhaps final attempt for comprehensive healthcare reform.
Despite claims that H.R. 3590 is a better alternative than the previously passed House bill, make no mistake, the price tag is still too high a price for America’s small businesses.
H.R. 3590 costs nearly $900 billion and would likely shutter small businesses and set our economic recovery backward with destructive policies:
A New Small Business Health Insurance Tax
- The tax is assessed on the health insurance small business owners buy
- The tax will increase health insurance premiums by at least $500 per year
- Labor unions and big business are exempt from this tax leaving small business footing the massive bill
A New Employer Mandate on the Construction Industry
- Any firm with more than 5 employees and payroll over $250,000 will be forced to provide health insurance to all employees at levels dictated by the government
- This mandate was added after demands by labor unions and is nothing more than a political payoff designed to make it easier for big unions to grow their membership ranks
An Oppressive New Small Business Paperwork Mandate
- H.R. 3590 imposes a new IRS paperwork burden on small businesses
- The provision forces small business owners to report every transaction over $600
Jamming through this job killing healthcare bill would dump disproportionate costs on already strained small businesses, while providing unfair exemptions for big business and labor unions; this is simply not reasonable reform. It will only result in more job losses and shuttered businesses during an unprecedented recession.
Our economic recovery starts with small business and Washington needs to stop promoting job-killing policies and instead take a more responsible approach to market reforms in order to make health insurance more affordable and accessible for small businesses.