Associated Builders and Contractors (ABC) is a national trade association representing 22,000 members from more than 19,000 construction and industry-related firms. ABC and its 72 chapters help members win work and deliver that work safely, ethically and profitably for the betterment of the communities in which they work. We take pride in building the future and advocating for legislation that helps small construction businesses grow and thrive so they can provide their communities with jobs and homes.
Unfortunately, the industry is facing a number of challenges. Unemployment in the building and contracting field is 10.8 percent, well above the national average of 7.6 percent. Although this marks the lowest rate since October 2008, policies like the health insurance tax (HIT), could threaten this progress. President Obama calls small businesses the “engines of job creation and essential to strengthening our national economy,” but our membership is concerned that the healthcare legislation will stymie their ability to grow.
To help legislators understand how the HIT would adversely affect small businesses and the economy, ABC brought business owners to Washington, D.C. this week to meet with Members of Congress. We will be talking with them about the HIT and urging them to sign legislation to repeal the burdensome tax.
When the HIT goes into effect next year, the more than 1.7 million small businesses that purchase health insurance coverage on the fully-insured market will see their premiums rise. It will cost them $101.7 billion in the first 10 years and $208 billion in the second decade. President Obama called small businesses essential to our economy, but this tax makes it more difficult to contribute to our overall recovery.
The HIT is a priority issue for us, and we appreciate the time Members of Congress took this week to meet and discuss it. We hope our conversation helped them better understand the devastating consequence this tax would have on small business growth, and encourage you to share your concerns as well. Contact your Member of Congress now to urge them to repeal the HIT.
Kristen Swearingen
Senior Director of Legislative Affairs
Associated Builders and Contractors