Iowa small business owners are once again bracing for a potential HIT.
That’s the harmful Health Insurance Tax, which would drove up the cost of health insurance coverage for 29 million small business owners. Without Congressional action, the HIT will return in 2018.
Stop the HIT Coalition, including NFIB, is working on behalf of members for a two-year suspension of the bill, which would be accomplished by S. 1978.
“The HIT impacts our ability to offer health insurance for our employees, our bottom line, and whether or not we’re going to grow,” said Katie Roth, owner of Portico Staffing in Iowa, to StoptheHit.com.
In Iowa alone, the HIT would mean premiums would increase next year for the state’s 264,384 small businesses. For an Iowa small business owner who employs 5, the HIT would total $2,500 per year.
For more information on how HIT would impact Iowa, click here.
