This Congress, I have introduced two items-H.R. 582 and H.R. 581 both would have significant impacts on individuals and businesses alike.
The first piece of legislation H.R. 582 “The Healthcare Tax Relief and Mandate Repeal Act “ would repeal the Obamamcare employer mandate, which last year the U.S. Supreme Court ruled would amount to a tax on businesses, working families, and individuals. We know and have heard from many businesses across the country that this tax will be devastating for them and their employees.
According to the non-partisan Congressional Budget Office (CBO) the individual mandate will increase taxes on American families by $55 billion. CBO also estimates the employer mandate will raise taxes on American businesses by $117 billion.
The second bill H.R. 581 “The First Responder Medical Device Tax Relief Act,” which repeals a 2.3 percent excise tax imposed by Obamacare on the sale of medical devices by manufactures, providers, and importers. This tax will place yet another burden on American businesses, stifling development of innovative life-saving products and costing jobs when out economy is struggling to recover.
Congressman Mike Turner Holds a Business Roundtable on Healthcare
Mound Laser and Photonics Center (MLPC), a company headquartered in Miamisburg, Ohio specializes in laser-based micro and nano-fabrication and provides services to number of markets, including the medical device industry.
I have also met with business leaders from Ferno-Washington Inc., a global leader in manufacturing and distribution of professional emergency and healthcare products based in Wilmington, Ohio. Both MLPC and Ferno say the tax increase may cause them to pass the tax increase on to customers through the sales price.
Now is not the time to impose an extra burden on our first responders when our economy is struggling to get back on track.
American small businesses are the backbone to maintaining our role in the ever-growing global economy. Throughout my time in Congress, I have been committed to encouraging the success of American businesses small and large to further expand right here at home in the Miami Valley.
In the House, I am committed to laying the groundwork that will help local businesses to ensure continued job creation by reducing further tax burden.