Since it became law in 2010, the already high cost of health insurance premiums and healthcare has continued to rise. The employer mandate, which applies to companies with 50 or fewer workers, will force many of those companies to resist hiring or even downsize. In fact, one local business owner told me that he was forced to lay off 25 employees after analyzing the costs his business would face with the new ObamaCare regulations.
Although President Obama repeatedly promised that if you like your healthcare, you can keep it, a National Journal poll found that 41% of people who work for companies that employ 50 people or less are worried that the law’s new health insurance exchanges will take away their existing insurance when they are operational.
In addition, the law significantly grows the size of government with the creation of more than 160 boards, bureaus, and commissions. Any time the government talks about growing, small business owners everywhere cringe at the thought of more regulations. It is for this reason, as well as many others, that House Republicans passed legislation to repeal the law in January.
One saving grace in this story is that even though ObamaCare has now been law for more than a year, many of its provisions do not go into effect until 2014, therefore giving Americans more time to repeal this law. We’ve already seen one provision of ObamaCare - the 1099 tax reporting requirement - repealed. This gives me hope that more of the law can be abolished also. When looking at its damaging impact on small businesses, most will agree that rescinding this massive law would alleviate a lot of fear and uncertainty for our primary job creators - small business owners.
Last year, my friend, Congressman Mike Pence, laid out the best two-step strategy for repealing ObamaCare: winning the House in 2010 and electing a new President in 2012. The nation has already expressed their rejection of ObamaCare in last year’s election. The next opportunity for the American people to take action against this job-crushing law will be in eighteen months.