Healthcare Reform Hurts Most Small Businesses
One of the biggest complaints that I hear from small businesses is the lack of affordable healthcare insurance for their employees. In many cases, employers want to provide health insurance for their employees, but simply cannot afford the cost. These small businesses tell me that in order to keep good employees, they must have competitive benefits.
The latest version of big government healthcare legislation promises to help small businesses, but the fact is that it might hurt small businesses more than help them. The legislation promises a tax credit to help small businesses purchase affordable insurance for its employees. However, according to the Congressional Budget Office, only 12 percent of small businesses would be eligible.
Firms with just 50 employees or more would get absolutely no help from this plan. These are the types of small businesses found throughout the Sixth District. They are small manufacturers, professional firms, service providers and even some mom and pop operations.
The bill also adds a new tax on the rich. Many small businesses file as individuals meaning they would be considered rich and have to pay more in taxes. The National Federation Independent Businesses estimates that the businesses most likely to be affected have between 20 and 200 employees. That is a quarter of the businesses in this country.
This bill will not be a help to most small businesses, in fact, it will hurt most small businesses. The answer to increasing access to health insurance is not more taxes and more bureaucrats. The answer is more competition and better choices.
Sincerely,
Sam Graves