A press release from Congressman Zack Space's Office:
SPACE-SUPPORTED HEALTH REFORM LEGISLATION WILL EXTEND LIFELINE TO OHIO’S SMALL BUSINESSES
-Affordable Health Care for America Act Will Provide Tax Credits to 11,700 Small Businesses in Ohio’s 18th Congressional District
WASHINGTON, D.C. — Continuing his efforts to ensure that health reform legislation is good for consumers, small businesses, rural health providers, and seniors in Ohio’s 18th Congressional District, U.S. Representative Zack Space (OH-18) today reiterated his support for H.R. 3962, legislation that will help small businesses struggling with rising health care costs.
The Space-supported legislation will allow 13,100 small businesses in OH-18 to obtain affordable health care coverage and provide tax credits to reduce health insurance costs for 11,700 small businesses.
“I’ve heard from small business owner after small business owner that the astronomically high cost of providing insurance under the current system is devastating,” Space said. “Many small business owners are being forced to either close their doors or not provide any health insurance at all. That is absolutely wrong.”
“These high costs present barriers to access for many of our small businesses who want to provide health insurance,” Space continued. “This legislation will provide crucial tax credits to small businesses that choose to provide health insurance to their employees and their families. It goes a long way toward saving our small businesses.”
Under our current health care system, small businesses pay up to 18% more per worker than large firms for the same health insurance policies. During negotiations, Space singlehandedly fought to ensure that small businesses in Ohio were protected.
The bipartisan House legislation:
· Increases the exemption for small businesses from an employer mandate by 500% – The bipartisan House legislation provides a total exemption for small businesses with payrolls of $500,000 or less. It also provides a significant reduction in the contributions for small businesses with payrolls as high as $750,000. Space singlehandedly fought to increase this exemption on the Energy and Commerce Committee.
· Provides small businesses a tax credit for offering insurance - Under the House legislation, small businesses with 25 employees or less and with average wages of $40,000 or less will qualify for tax credits of up to 50% of the costs of providing health insurance. In Ohio’s 18th Congressional District, up to 11,700 small businesses could qualify for these credits
· Provide affordable coverage to 13,100 small businesses in Ohio’s 18th Congressional District – Under the House bill, thousands of small businesses OH-18 would be able to provide affordable coverage to their employees while 98.8% of small business owners would pay no surcharge.
· Doesn’t add a dime to the federal deficit – The legislation is a fiscally responsible and does not add a dime to the federal deficit. According to the nonpartisan Congressional Budget Office, the bill will cut the deficit by over $30 billion during the next ten years and will continue to create a budget surplus over the next 20 years.
· Prohibits federal funding for abortions
The legislation has been endorsed by the American Association of Retired Persons (AARP), the nation’s largest seniors group, as well as the American Medical Association (AMA), the largest association of physicians and medical students in the United States.
Congressman Space has represented Ohio’s 18th Congressional District since 2007. He has been working to restore integrity to the office and create the conditions to bring new jobs and industry to Ohio