Legislation Repealing Key Provisions of the Healthcare Law Harmful to Small Businesses
Statement by John Arensmeyer, Founder & CEO of Small Business Majority, on Senate passage of legislation removing key provisions of the Affordable Care Act
The U.S. Senate recently passed legislation seeking to repeal key provisions of the Affordable Care Act, which is disappointing to the small businesses, small business employees and self-employed across the country who have benefitted from the healthcare law. By removing key elements of the law, this legislation could cause disruption in the health insurance marketplaces, resulting in skyrocketing health insurance costs.
Small businesses have long faced adverse conditions in the health insurance marketplace. According to a study by the President's Council of Economic Advisors, small businesses on average historically paid 18 percent more for health coverage than large companies and received fewer comprehensive benefits. The healthcare law offers much-needed relief by bringing down costs for small employers through increased purchasing power in the insurance marketplace and significant cost containment provisions. Additionally, would-be entrepreneurs can start their own businesses now that they can gain health insurance through the individual health marketplaces.
The Affordable Care Act offers solutions to many of the health insurance challenges that have long plagued small businesses. We urge lawmakers to stop efforts to repeal the healthcare law and instead focus on policies that will actually bolster small businesses, including ensuring greater access to capital, simplifying the tax code and expanding the healthcare tax credit for small businesses.
About Small Business Majority
Small Business Majority is a national small business advocacy organization, founded and run by small business owners to focus on solving the biggest problems facing America's 28 million small businesses today. Since 2005, we have actively engaged small business owners and policymakers in support of public policy solutions, and have delivered information and resources to entrepreneurs that promote small business growth and drive a strong, sustainable economy. We are a team of more than 30 working from our 11 offices in Washington, D.C. and 9 states, with a network of more than 45,000 small business owners and more than 2,000 business organizations, along with a formal strategic partnership program of more than 125 business organizations, enabling us to reach more than 500,000 entrepreneurs. Our extensive scientific polling, focus groups and economic research help us educate and inform policymakers, the media and other stakeholders about issues including taxes, healthcare, access to capital, entrepreneurship, workforce development, clean energy and immigration. Learn more about us on our website and follow us on Twitter, Facebook and Instagram.