Texas Association of Business Lauds Increasing Momentum Behind Health Insurance Tax Repeal; 50 Percent of U.S. House Sponsoring Repeal Bill
Texas Insider Report: AUSTIN, Texas — The following statement on the increasing number of House sponsors for repeal of the Affordable Care Act’s Health Insurance Tax (HIT) should be attributed to Bill Hammond, president and CEO of the Texas Association of Business (TAB):
“I’m heartened to see an increasing number of leaders in the United States House of Representatives sign on to sponsor the repeal of the Health Insurance Tax.
“Reaching the 218-sponsor threshold – or fifty percent of U.S. Representatives – is significant progress toward a full repeal of the Health Insurance Tax. These leaders in Congress, including 21 members of the Texas delegation, are taking a bold stand in support of a strong economy and continued job creation.
“Our state and our country cannot afford – literally or figuratively – the devastating impact of the HIT if it is not immediately repealed. Small businesses will be hit especially hard with an estimated 250,000 jobs lost if the tax is implemented.
“Small business shouldn’t take a hit. Congress is right to work across party lines for a full repeal.”
Founded in 1922, the Texas Association of Business is a broad-based, bipartisan organization representing more than 3,000 small and large Texas employers and 200 local chambers of commerce.
