WASHINGTON, D.C. (Sept. 24, 2013) – The Stop the HIT Coalition, a broad-based group representing the country’s small business owners, their employees and the self-employed, commended Senators Mike Enzi (R-WY) and Lamar Alexander (R-Tenn.), as well as Representative Erik Paulsen (R-MN) and other lawmakers for their letter to the Obama administration inquiring why a study was not conducted to determine the effects of the health insurance tax, or HIT on the economy. Despite an Executive Order requiring an economic analysis for any rule with costs exceeding $100 million, no such analysis has taken place for the HIT.
“We commend Senators Enzi and Alexander and Representative Paulson for their leadership in raising the profile of the HIT and how it will hurt small businesses and ultimately the overall economy,” said, Kevin Kuhlman, Manager of Legislative Affairs for National Federation of Independent Business, a leading Stop the HIT Coalition member. “As leading job creators, America’s small businesses form the backbone of local communities, and this harmful tax will have a significant impact on millions of Americans.
“A careful accounting of the effects of this tax will lead the Administration to the conclusion that America’s small business owners, their employees and families cannot afford this tax. It needs to be repealed.”
The HIT, is an often-overlooked aspect of the Patient Protection and Affordable Care Act (PPACA) that taxes health insurance policies purchased on the fully-insured market – the marketplace where 88 percent of small businesses and individuals buy insurance. Over the next decade, the HIT is expected to cost the average family $5,000. Labor unions and large corporations are largely exempt from the tax.
Legislation to repeal the HIT has been introduced in both houses of Congress. S. 603 and H.R. 763 combined have more than 250 bipartisan cosponsors.
The Stop The HIT Coalition represents the nation’s small business owners, their employees and the self-employed who are actively working to repeal the Health Insurance Tax. Since the Coalition’s formation in 2011, it has grown to include more than 35 national organizations, representing millions of small business owners across the country. For more information, please visit www.StopTheHIT.com.