Ways and Means Health Subcommittee Ranking Member Pete Stark (D-CA) and Ways and Means Committee Ranking Member Sander Levin (D-MI) today released the following statements in response to a report by the Commonwealth Fund showing the small business tax provisions in the Affordable Care Act are helping small businesses to provide health insurance to their employees. The report estimates that twice as many small businesses have taken advantage of the tax benefits in the Affordable Care Act in 2011 compared to 2010.
"This new report from the Commonwealth Fund highlights the importance of the Affordable Care Act for small businesses' employees, particularly lower wage employees. Many small business owners are eligible for tax credits to help offset the cost of providing health insurance and, starting in 2014, will be able to purchase insurance through health insurance exchanges. Those workers not offered coverage through their employer will be eligible for individual coverage through the exchange, with many eligible for subsidies to purchase this coverage. These reforms will give these workers the benefit of guaranteed issue in the marketplace and allow them to obtain coverage that is both more affordable and more comprehensive than they can get today," said Health Subcommittee Ranking Member Pete Stark.
"The report by the Commonwealth Fund underscores the importance of Obamacare's small business provisions," said Ways and Means Ranking Member Sander Levin. "Republican efforts to discredit the law and misinform the public can't obscure the fact that more and more Americans are benefiting from Obamacare as its provisions take effect."