This week marks the third anniversary of the health care law’s passage. Given the amount of airtime the law still gets, it’s hard to believe the Affordable Care Act has been on the books that long. The law continues to generate controversy from the corridors of Capitol Hill to the sidewalks of Main Street, but in fact many important provisions impacting our country’s primary job creators have been quietly helping small business owners better afford health insurance.
The New Year is just around the corner, which means we’re mere days away from falling off the so-called fiscal cliff. This impending situation — created by a vast array of tax provisions set to expire January 1, at the same time that across-the-board spending cuts start to kick in — could spell disaster for the small business community and our slowly recovering economy.
Co-authored by Erica Schoder at R Street Institute and originally featured in The Huffington Post:
A look at the numbers makes it clear that America’s economy relies on small business. After all, they create a majority of new jobs and employ four out of six American workers. And it’s not often political leaders miss an opportunity to tout the importance of this critical constituency.
As Fairfax, Va., small business owner Mike Brey prepares to close the books on 2012, he’s also starting to make expansion plans. But he hasn’t sealed the deal on his two new Hobby Works stores yet — largely because of growing economic uncertainty as we race toward the edge of the “fiscal cliff.”
Here’s a riddle for you. What did the small business owner do when she opened the letter from her health insurer?
If it’s Lynn Petrazzuolo we’re talking about, she did the happy dance. Because in that envelope was a $1428 rebate check from her health insurance carrier, who was reimbursing Lynn because it had failed to spend her premium dollars the way the new federal healthcare law requires.
A plurality (50 percent) of small business owners want the healthcare reform law upheld—either as is or with minor changes—while only one-third want the Supreme Court to overturn it, according to opinion polling released today by Small Business Majority. However, after learning more about the law, a clear majority (56 percent) want it kept intact with, at most, only minor changes.