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Public Statements

Repeal of Obamacare Act

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. WEST. Thank you, Mr. Chairman.

A U.S. Chamber of Commerce survey showed that 74 percent of small businesses contend that the Patient Protection and Affordable Care Act will make job creation at their companies even more difficult.

A recent report by Bloomberg News noted that the President's health care law will impose an estimated $813 billion in new taxes on job creators and middle class families, based on data from the nonpartisan Congressional Budget Office. Additionally, the law and the more than 13,000 pages of related regulations issued before July 11, 2012, are causing greater uncertainty, slowing economic growth, and limiting hiring opportunities for the approximately 13 million Americans searching for work. Imposing higher costs on businesses will lead to lower wages, fewer workers, or both.

Half of all small business income would face higher taxes. According to Bloomberg News, analysis by the Joint Committee on Taxation also shows President Obama's plan for massive tax hikes ``would mean higher taxes on 53 percent of business income reported on individual returns.''

The ObamaCare tax is already holding back job growth in medical innovation, with venture capital investment and medical device firms down over 50 percent in 2011 compared to any previous 5 years.

Mr. Speaker, today I had 17 members of the South Florida Chapter of the Association of Builders and Contractors saying that this law is going to adversely affect their businesses. Roger Dunshee, of Twin Vee Catamarans in Fort Pierce, Florida, is considering who he will have to leave off of his insurance coverage or who he will have to completely get rid of from his business. David Carbone, president and CEO of St. Mary's Hospital in West Palm Beach, is concerned about how he will be able to run the hospital and also the type of care he will be able to provide. Dr. Mark Powers of Orthopedic Specialists in Port St. Lucie, Florida, is concerned about what he will be able to provide as a small business owner.

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Mr. WEST. Mr. Speaker, this is not about taking anything away from the American people. We can keep what is good. But this is bad policy that had to be passed in order for us to find out what was in those 2,700 pages.

Let us do what is right for the American people. Repeal this onerous monstrosity that is nothing more than a tax law and develop a health care solution for which the American people can be proud.

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