Small business encouraged by house tri-committee healthcare reform draft bill

Small Business Majority is encouraged by the three House committees that have collaborated on an important new discussion draft to reform our broken healthcare system. The high cost of health insurance is the most important issue for American entrepreneurs, limiting the formation and expansion of untold numbers of businesses their #1 need is comprehensive healthcare reform.

Our research shows that small business owners want and need reform 72% of small business owners in our scientific polls across the country say they are struggling to afford health insurance.

Two-thirds of small business owners in our surveys also say they are willing to share the financial responsibility for creating a system that offers access to affordable, high-quality care. A large majority support the creation of a health insurance exchange.

Our recently released economic research, conducted by MIT economist Jonathan Gruber, shows that small business will be much better off with reform than without it, even if that reform requires an employer contribution. Without reform, small businesses will see their health insurance costs increase by $2.4 trillion over the next 10 years, costing jobs, profits and wages. But comprehensive reform that includes an employer contribution, with appropriate levels of tax credits, sliding scales and exclusions, will give small businesses the relief they need, potentially saving as much as $855 billion over the next 10 years, reducing lost wages by up to $339 billion and reducing the job loss by 72%.

The tri-committee bill is an important step toward economic relief for small business. We appreciate the committees work in setting forth specific recommendations, particularly for the exchange and shared responsibility. There's still a lot of work to be done on the details, however, and we believe that the provisions concerning employer requirements small business exemptions and tax credits, in particular deserve more attention.

We look forward to working with the committees to help develop these details, and help ensure that small businesses have access to affordable, high-quality healthcare.