Press Releases

Reed on CBO Report: Fewer Jobs, Fewer Insured Because of Obamacare

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Washington, DC, February 10, 2014 | comments

Rep. Tom Reed says the CBO report out of Washington is bringing more bad news about the health care law which is already struggling to deliver on its promises. The recent report from the non-partisan Congressional Budget Office (CBO) found the law’s negative effects on employment and the economy to be “substantially larger” than what it had previously projected. Reed highlighted three of the largest, most damaging points from the report.

“Most shockingly,” Reed said, “the report found Obamacare will reduce employment by as many as 2.5 million full-time jobs in the next decade. Second, CBO found Obamacare will insure one million fewer individuals this year than previously estimated. Third, between six and seven million fewer people will have employment-based insurance coverage through 2024 because of the President’s health care law.”

The CBO’s latest budget and economic report also found reduced compensation and slower economic growth overall. “In selling the law, the President repeatedly championed the points that Obamacare would improve the job climate, insure more Americans and allow families to keep their health plans if they liked them,” Reed continued. “The CBO confirms those points to be misleading and inaccurate.”

The Administration announced Monday it will delay part of the Obamacare employer mandate for a second year, exempting mid-size businesses from complying until 2016. In another rule change announced Monday, businesses with 100 or more employees will also have more time to comply with the law.

“The Administration is playing political games with Americans’ lives with yet another Obamacare delay,” Reed continued. “It’s not fair to use businesses and workers as political pawns. Americans deserve real solutions that don’t just delay the law for some individuals, but solutions that fix the problematic law permanently and for every American.”

Moving forward, Reed says he’d like to see his colleagues on the other side of the aisle join to mitigate the negative impacts of the law. “Hearing from constituents of lost hours and wages and dropped health insurance plans and doctors, my heart goes out to them and I will continue to do the work needed to care for them and better protect them. Obamacare isn’t doing the job the President promised it would and we need to fairly alleviate the problems Americans are facing as a result.”


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