House Small Business Committee Chairman Sam Graves (R-MO) today issued the following statement on the Supreme Court’s ruling of the constitutionality of the health care law:
“The health care law is a great burden for small businesses, and our economy as a whole, at a time when we try to rebound from a recession. This law has been a strain on the private sector, contributing to an unemployment rate that has been at least 8 percent for 40 consecutive months. Although the President himself promoted the law as not being a tax, the Supreme Court has decided otherwise, further limiting the freedoms of Americans. The Court’s surprising decision will not deter House Republicans from acting to repeal and replace the law on behalf of the American people and small businesses. We intend to start from square one with simple, common sense reforms that put patients in charge and help bring down costs. I will continue working to replace it with a plan that returns control of health care decisions to individuals, not the government.”
In a letter to President Obama today, Chairman Graves highlighted the great burden of the law to small businesses, along with the numerous other onerous regulatory and tax burdens holding small businesses back. The Small Business Committee has held 3 hearings on the negative impact of the law on small businesses.
Previously, Chairman Graves requested a GAO report on the effectiveness of the health care law’s small business tax credit. It’s report confirmed that, despite an aggressive outreach and publicity campaign by the administration, only 170,300 small employers claimed the tax credit in 2010, far below the estimated 4 million.