Despite former-Speaker Nancy Pelosi’s claim that the Democrats’ health care law would create “400,000 jobs almost immediately,” a new study revealed that over 70 percent of small businesses cite the health care law as a major obstacle to job creation. The U.S. Chamber of Commerce Q2 Small Business Study of over 1,200 small business executives also found that America’s job creators continue to report that the health care law may force them to reduce the size of their business and will likely result in termination of health insurance for their workers.
Key findings in the study include comments from owners which underscore the reality facing small businesses across the country that are struggling under the Democrats’ health care law.
- “72% [of small business executives] said that the health care law will make it harder for their business to hire.”
- “A significant number reported the likelihood of canceling insurance coverage for employees, as paying the penalty would be less expensive for their company.”
- “In short, small business owners will change from investing in their employees and their company to a strategy of avoiding growth that will require them to comply with the health care law.”
- “Many small business owners reported that, in addition to limiting hiring, the new law might force them to reduce the size of their business.”