On the Senate floor just now, Senator Bond misrepresented the effects of health reform on small businesses, jobs, and taxes. Please see below for a fact check.

RHETORIC: Sen. Bond Claimed Health Reform Bill Would Raise Taxes, Cost Jobs. “The majority’s so-called reform package will restructure 1/6 of our struggling economy, drive health care costs higher, force millions off their current plan, put health care decisions in the hands of bureaucrats, cut seniors’ Medicare, raise taxes, and hurt small businesses and cost jobs. There’s nothing funny about this health care folly.” [Senate Floor, 12/23/09]

RHETORIC: Sen. Bond Claimed That Bill Does “Nothing To Help Make Insurance More Affordable Or Accessible” For Small Business Employees. “For small businesses who employ a large number of those currently uninsured, this bill does nothing to help make insurance more affordable or accessible. The bill contains a costly employer mandate which destroys job creation opportunities.” [Senate Floor, 12/23/09]

REALITY: EXPERTS DISAGREE WITH SEN. BOND ON TAX CLAIMS

Joint Committee on Tax: Senate Bill Will Provide Nearly $450 Billion In Individual Income Tax Cuts. Jason Furman wrote on the White House Blog: “First, the health insurance reform bill being considered in the Senate does not raise taxes on families making less than $250,000 – in fact it is a substantial net tax cut for American families. The bill being considered represents a substantial net tax cut for middle income families. According to the independent Joint Committee on Taxation, the bill will provide nearly $450 billion in individual income tax cuts over the next 10 years.” [White House, 12/16/09]

Based On CBO Estimates, Under Senate Bill, Individuals Would Save From $200 To $2,500; Families Would Save $500 To $7,500 – “In Addition To The More Generous Benefits That These Groups Will Receive Through The [Health Insurance] Exchange.” Jonathan Gruber, MIT professor of economics and a health economics specialist wrote on the updated CBO estimates of the Senate health reform legislation: “I find that the savings are large for both singles and families, and that they are particularly large for the lowest income families that qualify for premium credits under the Senate Bill but would be left to face the full high non-group premium without legislation. In particular, I find that the single individual would save over $2,500 at low incomes (175% of poverty), and would save $200 even at higher incomes (425% of poverty or higher). For families, the savings are much larger, ranging from nearly $7,500 for low income families (at 175% of poverty) to $500 for higher incomes (425% of poverty of higher). It is worth noting that these savings are all in addition to the more generous benefits that these groups will receive through the exchange compared to the non-group market.” [Gruber, 11/27/09]

REALITY: CBO, SMALL BUSINESS, AND ECONOMISTS ALL DISAGREE WITH SEN. BOND ON JOB CLAIMS – SMALL BUSINESS WINS UNDER REFORM

CBO On Senate Bill: $27 Billion For Small Business Tax Credit. In its estimate of the Senate reform bill, CBO wrote: “The other main element of the coverage provisions that would increase federal deficits is the tax credit for small employers who offer health insurance, which is estimated to reduce revenues by $27 billion over 10 years.” [Congressional Budget Office, 11/18/09]

Manager’s Amendment: Small Business Tax Credits For Offering Coverage Expanded, Begin In 2010, And Improve Purchasing Power Of Small Businesses. “A package of improvements include starting the health insurance tax credit in 2010, expanding eligibility for the credit, and improving the purchasing power of small businesses.” [Manager’s Amendment Summary, 12/19/09]

Manager’s Amendment: Small Business Tax Credits Expanded By $13 Billion. “By working together we have added an infusion of about $13 billion to the small business tax credits in the underlying bill to help small businesses struggling to provide their employees with affordable health care. Expanding the tax credits to more small businesses and making the ‘bridge’ credit available immediately will ensure that health insurance is even more accessible for small business owners and workers.” [Sen. Landrieu press release, 12/19/09]

Business Roundtable: Without Reform, Health Care Costs Rise To $28,530 Per Employee, 166% Higher; With Reform, Businesses Could Save $3,000 Per Employee. A report from the Business Roundtable concluded that: “If the cost trends of the past 10 years repeat, by 2019, employment-based spending on health care at large employers will be 166% higher than today on a per-employee basis. This equates to an average of $28,530 per employee when employer subsidies, employee contributions, and employee out-of-pocket costs are combined. We estimate that if enacted properly, the right legislative reforms could potentially reduce that trend line by more than $3,000 per employee, to $25,435.” [Business Roundtable – Health Care Reform, 11/12/09]

Study: No Health Insurance Reform Means Small Businesses Will Pay Nearly $2.4 Trillion In Healthcare Costs, Cost 178,000 Jobs. The Small Business Majority study commissioned a study from noted economist from Massachusetts Institute of Technology, Jonathan Gruber. The study found that, “without reform, small businesses will pay nearly $2.4 trillion dollars over the next ten years in healthcare costs for their workers. With reform, the study shows that small businesses can save as much as $855 billion, a reduction of 36 percent, money that can be reinvested to grow the economy.” The study also found that without reform, 178,000 small business jobs will be lost in 2018 as a result of healthcare costs, and with reform, up to 128,000 of those jobs could be saved. [The Economic Impact of Healthcare Reform on Small Business, 6/11/09]

Small Business Majority Study: With Reform, Small Business Will Save As Much As $855 Billion Over The Next 10 Years. Small Business Majority Study: “Without reform, small businesses will pay nearly $2.4 trillion dollars over the next ten years in healthcare costs for their workers. With reform, the study shows that small businesses can save as much as $855 billion, a reduction of 36 percent, money that can be reinvested to grow the economy.” [The Economic Impact of Healthcare Reform on Small Business, 6/11/09]

Small Business Majority Study: Small Businesses Will “Likely Fare Better” Under The Reforms Being Debated In Washington. “Small businesses in the United States are suffering great harm under our current healthcare system will likely fare far better under a substantially reformed system along the lines of what is currently being debated in Washington.” [The Economic Impact of Healthcare Reform on Small Business, 6/11/09]

National Small Business Association: “Health-Care Reform Can Not Wait Yet Another Year.” “Health-care reform topped the list of small-business priorities when members of the National Small Business Association voted recently on issues they want Congress and President Barack Obama to address. The group said it supports ‘broad health-care reform’ that will reduce costs, improve quality, create a fair sharing of health-care costs, and focus on individuals’ responsibilities as health-care consumers. ‘Given the current state of the U.S. economy, the fact that our members voted health-care reform their number one priority ought to send a strong message to Congress,’ NSBA President Todd McCracken said in a written statement. ‘Health-care reform can not wait yet another year.’” [Orlando Sentinel, 3/9/09]

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