We are experiencing the longest period of unemployment over 8 percent since the Great Depression, now 40 consecutive months. Many believe this is a result of President Obama’s single-minded focus to push unpopular healthcare reform through Congress, to the exclusion of efforts to encourage job creation and producing a law which undermines job growth.
“Given the ACA’s complexities, people can’t know where they’ll get insurance and what it will cost. In 2014, the ACA requires all employers with 50 or more full-time workers to provide insurance or pay fines.
The ACA discourages job creation by raising the price of hiring. This is basic economics. If you increase the price of labor, companies will buy less of it. Requiring employers to buy health insurance for some workers makes them more expensive, at least in the short run.”
“The mandated $2,000 tax per worker in the new health care law, effective 2014 and levied on employers who do not provide the right kind of health insurance, is discouraging hiring. Companies with 50 or more workers will be required to offer a generous health insurance package or pay an annual penalty of $2,000 for each full-time worker. Moving from 49 to 50 workers will cost a firm $40,000 a year.”
Despite the evidence on the negative effects of Obamacare, former State Representative and career politician Dave Crooks told the Greene County Daily World
“…Obamacare continues to get ‘demonized,’ people are confused and do not know what good could come of it.”
Mr. Crooks is simply wrong. Hoosiers understand Obamacare and have experienced the negative effects it has had for themselves, their families, their small businesses, and their community.
In May, the unemployment rate was reported at 8.2%, marking the 40th consecutive month of unemployment rates over 8%. Younger workers have been disproportionately affected, as reported in a recent Manhattan Institute study: “Of the 2 million adults who found jobs over the past year, 1.7 million are over 55 years old, and 300,000 are between 25 and 55—even though the 25 to 55 group is three times the size of those 55 and older.”
The Congressional Budget Office estimates Obamacare creates at least 20 new taxes, fees, and penalties on small businesses totaling nearly $500 billion. For example, the medical device excise tax of 2.3% will stifle innovation and growth for more than 300 medical device companies in Indiana who collectively support 50,000 Hoosier jobs. Dr. Bucshon recently voted for legislation repealing the medical device excise tax because of its detrimental effect on job creation in Indiana.
Additionally, Obamacare implements more than 150 agencies, programs, or boards, creating a complex regulatory environment which has been difficult for businesses of all sizes to navigate. Between billions in new taxes and a complex regulatory bureaucracy, this has negatively impacted job growth at a time when job creation should be among the highest priorities for our nation’s leaders.
Dr. Larry Bucshon is a physician with more than 15 years of experience and a former small business owner who proudly represents Indiana’s 8th Congressional District and is one of only 19 physicians in Congress. He has been a national leader in the fight to repeal Obamacare and has voted 30 times to repeal portions of the law, 3 times for full repeal, and signed multiple amicus briefs to the U.S. Supreme Court challenging its constitutionality.
Dr. Bucshon also remains focused on encouraging job creation, working on multiple legislative efforts and recently hosting job fairs in Terre Haute and Evansville connecting job seekers with hundreds of available jobs with dozens of local companies.