Small Businesses Pessimistic Following the Election
“The small-business community will have to handle new taxes, including the seldom-discussed $87 billion Health Insurance Tax (HIT) imposed by the Affordable Care Act.”
The Daily Caller reports that following the presidential election, the Health Insurance Tax (HIT), passed as part of the healthcare reform law, continues to be a top concern for small businesses.
Citing last week’s Gallup Small Business Index findings that small business optimism has dropped to its lowest point since July 2010, the Daily Caller notes how the harmful impact of the HIT on small business is contributing to this pessimism:
“The increased cost for health care has many small business owners thinking about not providing insurance altogether.
‘Say if we are paying $13,000 a year for family health insurance, and the penalty is $3,000 per employee for family health insurance, I just saved $10,000 an employee if I put all our employees in the public pool and avoided the tax,’ one small-business owner told The DCNF.
‘The tax is one more thing that makes is more expensive to provide a good benefit for small-business employees.’”
Read the entire story here and follow @StopTheHIT for the latest on small business concerns in regard to the Health Insurance Tax.
The Stop The HIT Coalition represents the nation’s small business owners, their employees and the self-employed who are actively working to repeal the Health Insurance Tax. Since the Coalition’s formation last May, it has grown to include more than 35 national organizations, representing millions of small business owners across the country. The Coalition’s website enables small business owners and employees to sign a petition and write a letter to their elected official urging them to repeal this tax on its Take Action page.