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Today, U.S. Senators John Barrasso (R-WY) and Orrin Hatch (R-UT) spoke on the floor of the U.S. Senate about the Jobs and Premium Protection Act (S. 1880). This legislation will repeal President Obama’s health insurance tax that is expected to destroy jobs and increase premiums on small business owners.
Excerpts of Senator Hatch’s remarks on the floor of the U.S. Senate:
“The so-called Affordable Care Act is going to in fact drive up the cost of coverage and among the biggest reasons for this inflationary impact are the taxes that will be imposed on the American people to pay for the loss of $2.6 trillion in new spending.
“At the top of the list is the law's tax on health insurance.
“It is going to hurt employers and employees. It is going to be a drag on our economy, and it is going to depress wages.
“So, I am glad to be standing here with my friend, Senator Barrasso, as we introduce the Jobs and Premium Protection Act— a bill that repeals this onerous and counterproductive tax on workers and job creators.
“This tax will hit wide swathes of the American economy with millions of businesses and individuals impacted. A study by the National Federation of Independent Businesses shows this tax alone will lead to a loss of 125,000 to 249,000 jobs between now and 2021.
“The legislation we're introducing will help to reverse this trend. Repeal of the health insurance tax through the Jobs and Premium Protection Act we are introducing today, would do much to address the scourge of unemployment and get our economy moving again.”
Excerpts of Senator Barrasso’s remarks on the floor of the U.S. Senate:
“Ultimately uninsured individuals, small businesses and their employees are the ones who are going to end up paying this unfair tax.
“This new punitive tax will add hundreds of dollars to family and small business insurance premiums every year.
“The Wyoming Blue Cross-Blue Shield Association tells me that a Wyoming family of four, well, they'll see a premium increase because of this tax of over $300 in 2014.
“Our legislation is simple and straightforward. It eliminates the health care laws' punitive tax on every individual, family and small business that chooses to do the right thing and to buy health insurance.
“Our bill is a critical piece of pro-business legislation. It has the support of organizations, including the National Federation of Independent Businesses, the U.S. Chamber of Commerce, Blue Cross-Blue Shield Association, and America’s health insurance plans.
“I thank the ranking member of the Senate Finance Committee, Senator Hatch for his leadership and for joining me in introducing this legislation today.
“The time has come to eliminate a bad policy that not only increases health insurance costs but also negatively impacts America's job creators.”