This week, NFIB provided opposition testimony to two pieces of legislation that will impact small businesses.

A bill calling for a single-payer, government run healthcare policy went before the House Corporations Committee. This bill creates a new payroll tax to fund the program. It is mainly financed through a 10 percent payroll tax in which the employer is mandated to pay 80 percent of the tax, while employees will be required to pay the remaining 20 percent. Self-employed individuals and unearned income will also be taxed at a 10 percent initial rate. The bills allow for these amounts to be adjusted. Vermont passed a similar bill and was forced to abandon it because the expense of government run healthcare was set to bankrupt the state.

NFIB also opposed a bill creating a “Climate Superfund” that was heard before the House Committee on Environment and Natural Resources. The bill would hold businesses that produce or refine fuels financially liable for any environmental impact of their product dating back to a period between January 1, 1990, through December 31, 2024. The money would be used for a multitude of reasons. A similar law in New York passed earlier this year and immediately faced a lawsuit from 22 Attorneys General from across the nation claiming it violated the interstate commerce clause. This legislation could make energy costs even more pricey in Rhode Island driving up energy bills, as utilities pass the expense along to the consumer.