President Obama's disastrous health care law has yet to be fully implemented but is already yielding catastrophic results for patients, business owners, and American taxpayers alike. The federal government takeover of our health care system has increased costs, saddled businesses with onerous regulations, and raised more questions than answers.
In this economic climate, the uncertainty created by the President's health care law is crippling for business and leaves states in limbo. The lack of guidance from the Obama Administration and Secretary Sebelius has promoted employers to cut hours, freeze hiring, and in some cases, close their doors. This past week, Governor Deal cited it as a reason Georgia would not set up a health care exchange, a decision I strongly support.
While Obamacare has created much uncertainty and we are still learning of the perils of the $1 trillion law, what we know so far isn't pretty:
Eliminates Jobs and Slashes Employee Hours
-Under Obamacare, some companies are forced to reduce employees to part-time in order to stay afloat. Darden Restaurants, one of the 30 largest employers in the country, recently announced it would reduce employee hours.
-In order to keep their doors open, other companies have announced massive layoffs, including Orlando Health, which is undergoing their largest staff reduction in its 100-year history, Kaiser Permanente, which recently eliminated more than 500 jobs, and Wake Forest Baptist Medical Center, which announced it was forced to cut nearly 1,000 jobs.
-Obamacare raises taxes on individuals and businesses alike. One such tax, repealed by House Republicans, is the medical device tax. Obamacare increases taxes on the medical device industry so much so, that it amounts to nearly a 30 percent spike in what the industry already pays to the federal government, Mass Device reports. As a result, American companies are limiting research and development and moving jobs --and medical innovation-- overseas.
Increases Health Care Costs
-According to Reuters, many employees will soon face health care "sticker shock'. Wal-Mart Stores Inc's U.S. employees will pay between 8 and 36 percent more in 2013, prompting some of the 1.4 million workers at the nation's largest private employer to say they will forego coverage altogether.
Violates Religious Liberties
-Obamacare's contraceptive mandate infringes on employer's religious liberties.
Our struggling economy has put taxpayers and hardworking Americans through enough and they simply cannot afford the economic ramifications of Obamacare. The most recent CBO report alone shows that Medicare costs are going to increase under the President's health care law.
House Republicans remain committed to the full repeal Obamacare. In the meantime, they have repealed several devastating elements of President Obama's health care law, including the CLASS Act, the Medicare-rationing board known as IPAB, and the medical device tax. These House passed bills protect American jobs, promote cutting-edge health innovation, and encourage American companies to stay in America. I urge my Senate colleagues to protect hardworking Americans by acting and join us in our repeal of Obamacare's crippling taxes and regulations.