Report details health law's negative effect on jobs
Congressman Joe Pitts | 03.26.13
Washington— The House Energy and Commerce Committee recently released a report detailing how the Affordable Care Act is affecting job creation. The report shows how the law’s regulations and taxes are making it more difficult for businesses to increase payrolls and continue to provide insurance for current employees.
Pitts, chairman of the panel’s Health Subcommittee said:
“Three years on from passage of the law, we are now seeing how it is making it tougher for workers to find good jobs in today’s economy.”
“Unemployed Americans are searching for full-time work, and finding only part-time. Companies are cutting back to prepare for hefty new tax bills, leaving even more workers wondering how long it will take to find a new job.”
The report cites recent analysis from the Federal Reserve showing that employers across the country are laying off employers or holding back on hiring because of the law. Several companies have specifically blamed the new medical device tax for reduced payrolls.
“Pennsylvania has many successful medical device companies providing good jobs, but the new tax is on their net income, not just profits,” said Pitts. “The health law tries to ‘balance’ trillions of dollars in new costs on the back of innovative industries. Without relief, we are going to lose some of these good jobs to foreign competition.
“The law is not providing the reduced medical costs we need to make insurance affordable for more Americans. It is holding back job growth and will contribute to our growing national debt. I’m going to continue leading the Health Subcommittee on efforts to repeal and replace the law with better alternatives. Americans deserve good health care and good jobs and shouldn’t have to trade one for another.”
The report is available at: http://energycommerce.house.gov/sites/republicans.energycommerce.house.gov/files/analysis/20130322Jobs.pdf
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Published in Healthcare Transformation