A new report certain to spur quicker GOP action to kill Obamacare finds that it has crushed small businesses forced to participate and robbed employees of $19 billion in wages in 2015.
What's more, the American Action Forum analysis found that Affordable Care Act regulations have cost 295,030 jobs and killed 10,130 small businesses that year.
A similar report on Obamacare's regulatory impact in 2014 put the price at $22 billion in lost wages.
Based on federal data, the report said, "We found that since the ACA became law, among small businesses, the rise in premiums has been associated with $19 billion in lost wages, 10,130 fewer business establishments, and nearly 300,000 lost jobs, with seven states losing more than 10,000 jobs, all results consistent with our previous research. Given the premium spikes in some states, 17 percent to 47 percent, it is not difficult to understand how the labor market reacts to the significant increase in health care costs. In fact, regulators predicted many of these increases when they first implemented the law."
The report provides cost details and estimates for each state, and mentions a few in the executive summary:
"Research from the American Action Forum (AAF) finds regulations from the Affordable Care Act (ACA) are driving up health care premiums and are costing small business employees at least $19 billion in lost wages annually. These figures varied by state, but in 2015 the ACA cost year-round workers $2,095, $2,134, and $2,260 in Ohio, New York, and North Dakota, respectively. Premium increases, a prospect regulators predicted when issuing the first ACA regulations, also significantly diminished the number of business establishments and jobs nationwide. Across the country, small businesses (20-99 workers) lost 295,030 jobs, 10,130 business establishments, and $4.7 billion in total wage earnings. Florida lost 17,950 jobs; Ohio lost 19,000; Pennsylvania lost 15,680; and Texas lost 28,010 jobs due to higher sensitivity to rising health care premiums and the ACA."
Paul Bedard, the Washington Examiner's "Washington Secrets" columnist, can be contacted at email@example.com