I own a small business in Iowa City, and I am concerned about the effects that the Health Insurance Tax is having on my fellow small business owners. If this tax is allowed to remain in effect for 2020 and 2021, it is going to put small businesses out of business. U.S. Sen. Chuck Grassley can help prevent that outcome by voting in favor of the Health Insurance Tax Relief Act of 2019.
Small businesses that provide health coverage to their employees will see premiums rise by $500 per person in 2020 alone if the HIT isn’t stopped. That is a tremendous amount of money for small businesses to have to pay out. Those that can’t afford to provide insurance at all will have a hard time hiring new employees or even retaining the ones they already have.
Skyrocketing health premiums is a primary reason that small businesses are struggling today. If the HIT keeps making that struggle even harder, it is going to close up a lot of “mom and pop” shops. The country needs to figure out a way for small businesses to afford health insurance. In the meantime, Grassley can prolong the HIT delay by supporting the Health Insurance Tax Relief Act of 2019.