This is what it would mean for business:
- Employer Mandate: Requires employers to provide insurance or pay a penalty for not doing so. Businesses with more than $500,000 in revenues would pay a penalty of 8% of payroll. There is a graduated penalty for firms falling between $250,000 to $500,000 in revenue.
- Individual Mandate: Individuals and the self-employed are required to buy health insurance or pay a financial penalty, which would be 2.5 percent of income.
- Higher Taxes: A surtax would be imposed on higher-income individuals - many of which are small business owners. Individuals earning $280,000 and couples earning $350,000 would get hit with a 1% tax.
- Government Health Insurance: A government-run health care plan is established.
Note: The above items were provided by the Ohio Chamber of Commerce.
Congressman Space has expressed concerns about this current form of Health Care Reform. We are asking our members to contact him and tell him to stand firm with his current position and not support this issue.
How To Contact Congressman Zack Space:
1. Call his office (202) 225-6265 or
2. Send him an email here.
Please take the time to let him know your opinion on this very important issue.