The President's health care law recently saw its third anniversary but Rep. Tom Reed sees no reason to celebrate.
"The law's negative impacts remain a huge concern as we continue to see jobs, wages, and hours threatened," Reed said. "Three years later and the President's health care law is not living up to its promises. Instead, it is failing both employees and employers."
A Federal Reserve report released earlier this month found the law slows hiring and increases costs. The report stated that "Employers in several Districts cited the unknown effects of the Affordable Care Act as reasons for planned layoffs and reluctance to hire more staff."
"The uncertainty surrounding aspects of Obamacare that have not yet taken effect is causing employers to preemptively decide to lay off employees or decide not to hire new employees," said Reed.
"Aside from outright repeal, there are a number of specific aspects of the law that can be repealed to improve job growth," Reed continued. "In the House, we have co-sponsored legislation to repeal the Health Insurance Tax and Medical Device Tax -- two additional taxes our small businesses, manufacturers, and employees will be faced with."
The Health Insurance Tax (HIT) scheduled to go into effect in 2014, is a fee charged to all health insurance companies that will be passed on, raising health care premiums for small businesses and their employees. The Medical Device Tax is a 2.3 percent tax on manufacturers for medical devices including defibrillators, pacemakers and prosthetic limbs. Rep. Reed also advocates repeal of the Independent Payment Advisory Board, a group of unelected bureaucrats charged with determining what services will and will not be paid for by Medicare.
"We've already seen the first significant revocation of a portion of the President's health care law with the 1099 requirement repeal, and we'll continue the work to mitigate negative impacts and costs to our businesses and employees."
The 1099 repeal legislation was signed into law by the President last April. Reed was an original co-sponsor of the legislation to repeal a provision requiring businesses and real estate owners to file a 1099 form with the IRS for vendors to whom they paid more than $600 in a year. The reporting requirement garnered bipartisan support for repeal.