Healthcare tax credit

Small business owners are at the epicenter of a growing national affordability crisis. The cost of starting and growing a small business continues to rise, from ballooning healthcare premium rates and rising childcare costs to inflated tariff rates impacting global supply chains.

On January 22, Small Business Majority submitted a statement for the record in response to a recent U.S. House Committee on the Budget hearing titled “Reverse the Curse: Skyrocketing Health Care Costs and America’s Fiscal Future.” The statement details how extending the ACA’s enhanced subsidies, strengthening healthcare price transparency and implementing site-neutral payment reform across healthcare settings will increase competition in healthcare and lower costs for small businesses and consumers. 
 

On January 9, Small Business Majority sent a letter urging the Senate to swiftly pass the bipartisan three-year extension of the Affordable Care Act’s enhanced premium tax credits (EPTCs) that was approved by the House on January 8. Since the EPTCs expired in December, millions of small business owners and employees are facing significantly higher premium costs this year, threatening their ability to maintain health coverage and keep their doors open.

On December 10, Small Business Majority sent a letter to House and Senate leadership underscoring the urgent need for Congress to pass a clean extension of the Affordable Care Act’s (ACA) enhanced premium tax credits (EPTCs), which are set to expire on December 31. With open enrollment nearing its end, millions of small business owners and entrepreneurs face steep premium hikes next year if lawmakers fail to act in the coming days.

On December 8, Small Business Majority submitted a statement for the record in advance of a Senate Permanent Subcommittee on Investigations hearing titled “Defining Our Healthcare Problem, and Principles We Should Follow to Solve it.” The statement outlines the critical role the Affordable Care Act (ACA) Marketplace and the expansion of the premium tax credits have played in strengthening access to affordable healthcare coverage for small business owners and employees.

On November 20, Small Business Majority network member Shirley Modlin, co-owner of 3D Design and Manufacturing in Powhatan, VA, testified at a House Committee on Small Business hearing to discuss issues impacting her business and small manufacturers nationwide, including tariffs, workforce shortages and rising healthcare costs.

Watch her testimony »

Small Business Majority submitted a statement for the record in response to a U.S. Senate Finance Committee hearing titled “The Rising Cost of Health Care: Considering Meaningful Solutions for all Americans.” The statement urges Congress to immediately extend the Affordable Care Act’s enhanced premium tax credits (EPTCs) to prevent millions of small business owners and employees from seeing their healthcare premium payments skyrocket next year. 

On November 6, Small Business Majority submitted a statement for the record in response to a Senate Homeland Security and Governmental Affairs Committee Permanent Subcommittee on Investigations hearing titled "Assessing the Damage Done by Obamacare.” The statement highlights the vital role the Affordable Care Act (ACA) Marketplace has played in expanding access to affordable health coverage for a record number of small business owners and employees since 2014.

On October 22, Small Business Majority submitted a statement for the record in response to a U.S. Senate Special Committee on Aging hearing titled “Modernizing Health Care: How Shoppable Services Improve Outcomes and Lower Costs.” The statement underscores the importance of extending the Affordable Care Act’s (ACA) enhanced premium tax credits which help lower healthcare premium costs for more than 4.4 million small business owners and entrepreneurs enrolled in the ACA Marketplace. 

On September 10, Small Business Majority hosted a congressional staff briefing highlighting the need to extend the Affordable Care Act’s (ACA) enhanced premium tax credits (PTCs), which enable millions of small business owners, self-employed entrepreneurs and employees to access affordable, quality health coverage through the Marketplace each year. The briefing was held in partnership with Senators Jeanne Shaheen (NH) and Ron Wyden (OR), Families USA, the National Women’s Law Center, and Your Health Idaho.