REED CALLS MARCH A CRITICAL MONTH IN DETERMINING LONG-TERM FUTURE OF OBAMACARE; Congressman supports repeal of law which is discouraging job growth and will increase taxes
Congressman Tom Reed is calling March a critical month in determining the long-term future of the Patient Protection and Affordable Care Act, commonly referred to as Obamacare. The House Committee on Ways and Means, of which Reed is a member, began dealing last week with the financial and tax aspects of the controversial 2700 page law. The United States Supreme Court will also hear arguments against the Constitutionality of the individual mandate portion of the law this month.
“I voted in favor of the full repeal of Obamacare last year, the defunding of various parts of the law, and the repeal of the CLASS Act,” Reed said. “I am also co-sponsor of a bill to repeal the implementation of the Health Insurance Tax scheduled to begin in 2014. The reality is that the negative aspects of the law’s mandates, tax increases, and Medicare cuts do not take effect until 2013 or 2014. March will be an important month in determining whether or not this stands.”
“Full implementation of Obamacare in 2013 will mean fewer jobs, higher taxes, and an exploding deficit.” Reed continued. “Health care costs continue to rise because this law dealt with health insurance, but not the real problem of rising health care costs.”
“I recently toured a business in Steuben County which could hire more workers but is holding at 48 employees. This decision was made because of higher anticipated health care costs in 2013,” Reed said. “It’s an all-too typical story that we hear. Businesses aren’t hiring because of the costs they will bear when the law is fully implemented.”
The non-partisan Congressional Budget Office (CBO) found that the health care law may hinder job creation and two hundred economists signed a letter to Congress which concluded that the law “contains expensive mandates and penalties that create major barriers to stronger job growth.”
Reed emphasized that there are some aspects of the law that he supports, such as coverage for pre-existing conditions. However, he noted that the overall financial impact of Obamacare will be devastating, including a $500 billion reduction in Medicare funding which will undermine its long-term solvency. He also cited the fact that health care premiums continue to go up, not down, despite the promise that the law would reduce premiums by $2,500. A Kaiser Family Foundation report found that health care premiums in the workplace increased nine percent, or over $1,200, for an average American family in the year following enactment of the law.