Senate Bill Clear Win for Small Business
Statement by John Arensmeyer, CEO, Small Business Majority:
The Senate's Patient Protection and Affordable Care Act is a clear win for small businesses and constructively addresses past criticisms of healthcare reform. It puts us on the cusp of reforming our nation's broken healthcare system, and getting the country's 28 million small business owners some desperately needed relief from skyrocketing healthcare costs. Small business owners have been stuck in a financial morass due to exorbitant healthcare costs and limited choice. These realities often prevent them from offering coverage to their employees, or force them to freeze wages or defer growth in order to provide insurance. Economic research we released over the summer based on modeling by MIT economist Jonathan Gruber shows that without reform, $52.1 billion in small business profits and $834 million in wages will be lost by 2018 as a direct result of those costs. Because more than half of all Americans working in the private sector are either employed by a small business or own one, these are problems that affect the entire country. Majority Leader Reid and the Senate listened when small businesses asked for help, and then responded with a bill that addresses most of our top concerns and effectively deals with the objections voiced by some small business groups to elements of previous versions of the bills. Highlights include:
Passing healthcare reform this year is imperative if small businesses are to survive, let alone thrive. Our recent opinion polling of small business owners in 17 states shows resounding support for reform, and more than two-thirds believe healthcare reform is needed to fix the economy. This makes it vital that all stakeholders continue working together to pass meaningful reform. As small business owners and as Americans, we cannot wait any longer.
- Significantly reducing healthcare costs, reducing the deficit and offering more affordable choices to small business owners and their employees
- Stringent insurance reforms, such as the elimination of preexisting condition rules and discrimination based on gender or health status
- A system of exchanges that will enable small business owners to join a pool that will give them more options and greater clout when negotiating for coverage
- Strong tax credits
- Exempting employers with up to 50 employees from any requirement helping the smallest businesses, which have been hardest hit by rising insurance premiums
Small Business Majority is a nonprofit, nonpartisan organization founded and run by small business owners and focused on solving the biggest problem facing small businesses today: the skyrocketing cost of health coverage. We speak for the nearly 28 million Americans who are self-employed or own businesses of up to 100 employees. Our organization sponsors scientific research that guides us to understand and advocate on behalf of the interests of small businesses across the country.