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March 19, 2013
NFIB Research
Foundation: Health Insurance Tax to Cost 146,000 to 262,000
Private-Sector Jobs
The National
Federation of Independent Business
Research Foundation releases an
updated study showing the
significant number of jobs that will
be lost by the Health Insurance Tax
(HIT) as a result of the Patient
Protection and Affordable Care Act
(PPACA).
Using independent cost estimates,
the Research Foundation’s BSIM
(Business Size Impact Module)
predicts the rise in cost of
employer-sponsored insurance
stemming from the HIT will result in
a reduction in private sector
employment of 146,000 to 262,000
jobs by 2022, with 59 percent of the
job losses coming from small
businesses. This will amount
to a reduction of U.S. real output
(sales) by between $19 billion to
$35 billion during the same time
frame. A similar study
released in 2011 predicted a loss of
125,000 to 249,000 jobs and $18 to
$30 billion in sales by 2021.
Bipartisan legislation to repeal the
HIT was introduced last month in the
House of Representatives by Reps.
Charles Boustany (R-La.) and Jim
Matheson (D-Utah).
“Singling out job creators for tax
increases when unemployment is still
a major hurdle for our economy is
short-sighted and wrong for our
nation’s growth. We need to do all
that we can to increase jobs, not
reduce them,” said Susan Eckerly,
NFIB Senior Vice President of
Federal Public Policy. “The NFIB
will continue to highlight the very
real and negative effects the HIT
will have on small businesses and
everyday Americans as we work to
pass bipartisan legislation to
repeal the HIT.”
The BSIM is a dynamic, multi-region
forecasting model that analyzes the
impact of policy “shocks” on the
economy and is unique in ability
among models to forecast the
economic impact of such policy on
U.S. businesses differentiated by
size of the firm. For this purpose,
the BSIM adhered to the Small
Business Administration definition
of “small business” as firms with
fewer than 500 employees.
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