The Impact of Obamacare on Business and Economy The new health care law will impose new compliance regulations, employer mandate taxes, and numerous indirect costs on small- and medium-size companies. For Scott Womack, the owner of a dozen IHOP restaurants in Indiana and Ohio, these are obstacles that will likely prevent him from expanding his business and hiring new employees. The SolutionStop new tax increases, promote tax cuts that would expand private insurance coverage and grow the economy, and encourage portability of health insurance so that workers own their health care plan, regardless of their job status. Obamacare Facts & Figures $52 billion in new taxes will be imposed on businesses by mandating that employers provide health insurance. On February 10, 2011, CBO Director Doug Elmendorf testified before the House Budget Committee that Obamacare will result in an estimated 800,000 fewer U.S. jobs.
Posted on: Wed, 25 Sep 2013 20:10:17 +0000