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New bipartisan bill would bring immediate HIT relief

Over the last month, we have been raising awareness about the health insurance tax, or HIT, and working for its repeal through our HIT Countdown on Twitter and Facebook. As we continue our fight to completely repeal the HIT, a new bill released this week would provide immediate relief for millions of small businesses and their employees.

Thanks to the leadership of Congressman Charles Boustany (R-La.) and Congressman Ami Bera (D-Calif.), the bipartisan bill would ensure that for two years, small businesses and their employees are treated the same as big business and other groups that have received exemptions. Without this legislation, the HIT would have impacted approximately 34 million Americans in the form of higher health insurance costs, reduced take-home pay and diminished economic growth.

Since premiums already reflect the HIT tax for 2014, regulators will be working on a system to refund this money. Given all of the problems with the rollout of the new health insurance law, it only makes sense to give small businesses and their employees a break. The HIT comes at a time when many small businesses are struggling to add jobs, and families across the country are working hard just to make ends meet. The HIT stacks the deck against both these groups.

Going forward, we will continue to fight for a full repeal of the harmful health insurance tax to give millions of Americans peace of mind that they will not have to face the HIT. In the meantime, this bipartisan measure will bring immediate relief to small businesses and help reduce the burden of skyrocketing health care costs.