Many people are anxiously awaiting the U.S. Supreme Court’s decision on President Obama’s Healthcare Reform Law, which should come sometime this week. A part of that bill would place a Health Insurance Tax (HIT) on small businesses.
Small business owners and economic experts met in Fairmont today, to talk about what affect the looming Health Insurance Tax will have on local stores. But more importantly, how they can stop it from happening.
Experts say the HIT tax will take $87 billion out of the pockets of small businesses. The coverage will also cost families around $5,000 over a 10 year period. That’s why they’re telling small business owners to reach out to their federal legislators, and ask them to repeal the tax before it goes into effect in 2014.
With other increasing costs like fuel and transportation, experts say it’s already tough for small businesses to make ends meat as it is. Owners say the HIT tax would just be too much for them to afford.
If you’d like to learn more about this issue, go to stopthehit.com