Democrats vs. small business
by Brian Schwartz | 2:30 pm, November 4, 2009 | Comments Off
From Grace-Marie Turner:
For example, the bill requires employers to pay at least 72.5 percent of insurance premiums for an individual and 65 percent for families. Data from a 2009 Kaiser Family Foundation survey suggest that at least 30 percent of firms with fewer than 200 employees that now offer insurance would fail the test for family coverage, and about 20 percent would fail for individual coverage.
In other words, small businesses would have to pay more for health insurance than they do now — as well as comply with hefty new record-keeping requirements and audits by federal agents.
The Congressional Budget Office estimates that businesses will be hit with tax penalties totaling $135 billion over six years for noncompliance with the mandate. These would surely fall disproportionately on small businesses.
Read the whole article in the New York Post: Biggest loser of ‘reform’: small biz.
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