NFIB's Austin: ACA Not Living Up to Promises to Small Businesses

Thursday, 08 May 2014 07:25 PM

By Sandy Fitzgerald

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Obamacare was supposedly created to help small businesses, sole proprietors, and individuals, says Amanda Austin, the director of Federal Public Policy for the National Federation of Independent Business.

Instead, the law "has just created new taxes and new mandates" and the delays and exemptions prove "it's just flat-out not working," Austin told hosts J.D. Hayworth and Morgan Thompson on Newsmax TV's "American Forum" Thursday.

A new study that finds the health insurance tax will cost more than 280,000 jobs in upcoming years will not only cost businesses, but it will also create problems for consumers, said Austin.

"Most consumers are going to see their premiums increase when we're talking about healthcare costs," said Austin. "This law puts in new mandates on individuals and businesses. It requires more health benefits included in the insurance claim that you purchase, and the way it's sort of 'pays for itself' is it's got a handful of new taxes that basically most ... consumers are going to be paying in the long run. They're demanding that you get the Cadillac when you just wanted the Corolla."

The implementation of Obamacare will create additional costs for everything "from the bottom up," said Austin.

"You've got a huge tax on employers through the employer mandate. If you do not offer insurance to your employees and are considered large by what constitutes this law which is 50 or more employees, you're paying either $2,000 dollars or $3,000 dollars not deductible to the employer per head on an annual basis per employee."

The list goes on, said Austin, as there are new Medicare taxes included, a medical device tax, and a health insurance tax.

Story continues below video.



All businesses are going to be hit hard, said Austin, but small businesses will likely be hit the most.

"You're looking at the mom and pop, 15 employees, 20 employees, 25, if you ask them what the most unpredictable cost they have on an annual basis, I guarantee you those that are offering health insurance coverage are going to say, it's my healthcare premium."

Such businesses, she said, don't know what the impact of health insurance is going to be, said Austin.

"With this law, it just completely exacerbates that issue and that's why we're so sensitive to every nook and in this law that affects business," said Austin. "At the end of the day it comes out of one bucket and it's going to be an enormous cost."

Related Stories:


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Ex-Gov Turned Cannabis CEO: Pot Legal Across US by 2024

Thursday, 23 Oct 2014 22:25 PM

Former New Mexico Gov. Gary Johnson, who runs a publicly traded marijuana products company called Cannabis Sativa, Inc.  . . .

Ex-Rep. Istook: Wind Energy a Crony Capitalist Gift

Thursday, 23 Oct 2014 22:13 PM

Wealthy investors in wind power are reaping profits from an expensive , and subsidized , form of green energy that is dr . . .

Leahy: Some Americans 'Never Want' Another Black President

Thursday, 23 Oct 2014 21:49 PM

Democratic Sen. Patrick Leahy of Vermont said Thursday that some Americans "never want to have" another black president. . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved