Obama proposal to fund healthcare reform doesn't harm small business

For Immediate Release: 
Friday, February 27, 2009

Statement by John Arensmeyer, CEO, Small Business Majority:

President Obama's budget proposal includes a provision that would fund about half of the projected cost of comprehensive healthcare reform with a tax deduction cap on those with personal incomes over $250,000. Critics have been arguing for days that this would have a particularly detrimental impact on small businesses.


This kind of political gamesmanship stands in the way of a real debate about the parameters of healthcare reform. In fact, according to the Urban Institute and Brookings Institution Tax Policy Center, fewer than 2% of all small business owners would be affected by the provision, which would trim the Bush-era tax cuts that have benefited the wealthiest Americans. The other 98%+ earn less than $250,000 and would not be affected.

Small Business Majority is a national, nonpartisan small business advocacy organization focused on healthcare reform.