Small Businesses Applaud President's Supportive Speech

President Obama underscored the onerous burden the current healthcare system places on small businesses during a speech at the White House today shining a much-needed spotlight on small businesses dire need for healthcare reform now.

As the president stated, and as was pointed out in a report released today by the Department of Health and Human Services, small businesses are suffering more than any other group under the current healthcare system, and it will only get worse. This confirms a key finding from our research showing that, without reform, over the next 10 years small businesses will spend $2.4 trillion on healthcare.

President Obama acknowledged that the current system stifles entrepreneurialism and hinders small business growth, and highlighted the role of small business in the economy as a job creator. He emphasized that in order to restore the American economy to what it can and should be, we must start by helping small businesses.

From surveys we've done, we know that small business owners top priorities in healthcare reform are containing costs, having affordable coverage available and having more choice. The president pledged to push reform that would make these goals a reality by:

• offering tax credits to small businesses trying to do the right thing and offer insurance to their employees
• cracking down on excessive insurance overhead charges in order to contain costs
• implementing an insurance exchange that will provide small businesses the leverage they need to remain competitive. We were happy to hear the president say that by choosing one of the plans available in the exchange, small businesses could save 25 percent on their premiums by 2016.

What's killing small businesses is the status quo. President Obama got it right today when he said that by passing healthcare reform, we will secure the American dream for future generations.