Sep 06 2013
I believe that North Texans deserve better than a law that is bad for our economy, bad for job creation, and bad for our health care system. ObamaCare is plagued with new mandates on individuals and businesses, increased taxes, and reduced Medicare benefits for our nation’s seniors. It is the largest government intrusion in the doctor-patient relationship ever seen.
Since this disastrous law was forced through Congress and signed by the President, I have led the fight in Congress to stop it. I have voted more than 30 times to repeal, dismantle, or defund ObamaCare (click here for a full list of my votes). Due to our efforts, President Obama has signed 9 of these bills to repeal pieces of ObamaCare or reduce funding for programs within the law – a step towards victory for all Americans and job-creators across the country.
Below you will find more information on the impact of ObamaCare on our economy, job creation, and health care. I will continue to work tirelessly to stop this disastrous law and replace it with common-sense reforms that reduce costs while providing every American with access to the quality care of their choice.
ObamaCare: What Does it Cost?
- Cost to Taxpayers - ObamaCare will add $6.2 trillion to the federal debt over the next 75 years.
- New spending in ObamaCare will cost $1.8 trillion over the next decade alone.
- $716 billion will be cut from Medicare to pay for ObamaCare.
- Cost to Families - Although the president promised that families would save $2,500 on health care insurance through ObamaCare, the average family premium has instead increased by more than $3,000 since 2008 and is expected to continue to rise.
- Some Americans could see a rate increase as large as 413% in their insurance premiums.
- On average, Texans face potential premium increases from 5-43% in the individual market and 23% for small groups.
- Cost to Employers – Recently, Delta Airlines announced that ObamaCare will cost its company $100 million in increased health care premiums.
ObamaCare: Impact on Health Insurance Coverage
- Americans are Losing Their Current Health Insurance- As many as seven million Americans will lose their employer based healthcare.
- Employers have begun dropping spouses from their health insurance coverage. This week, UPS announced that 15,000 spouses of its employees will be dropped from its health insurance plan.
- Employers who previously provided generous health care benefits are now exposed to an excise tax and will not be allowed to keep these plans without paying an additional, significant tax.
- Those who don’t make a lot of money and currently take advantage of low-cost, high deductible insurance plans that cover only the essentials will no longer have access to these plans. Instead, they will be forced to pay high rates that they cannot afford for plans that they do not need.
ObamaCare: Impact on American Jobs
- Fewer jobs - According to the CBO, ObamaCare will shrink employment by 0.5%.
- ObamaCare puts 3.2 million jobs at risk in the franchise industry alone.
- Uncertainty surrounding exactly how much employee health insurance plans will cost employers has slowed potential job growth.
- Fewer hours and fewer full time jobs - Employers are cutting full time jobs to avoid the requirements of the employer mandate.
- Since ObamaCare was passed, there have been seven part-time jobs created for every new full-time job.
- Full-time job growth has only expanded 0.23% since ObamaCare passed.
- Compliance Costs - According to the Congressional Budget Office’s Director, compliance costs surrounding ObamaCare will cost 800,000 jobs and $52 billion.