Gov. Affairs Program: Stop the HIT Coalition with Congressman Reed

Small business owners in New York and across the country are facing a new financial burden in the form of the health insurance tax, or HIT, which went into effect this year as part of the Patient Protection and Affordable Care Act (PPACA). This new tax is estimated to cost over $100 billion—an amount that will be almost entirely passed on to small businesses and their workers who purchase coverage in what is known as the “fully insured market.” 

Congressman Tom Reed recently cosponsored the Small Business and Family Relief Act (H.R. 3367), a bipartisan bill in the U.S. House of Representatives that would provide immediate relief from the HIT for two years. Congressman Reed has also cosponsored the Jobs and Premium Protection Act (H.R. 763), which would repeal the HIT and permanently relieve small businesses of this tax.

New York is home to 2 million small businesses, which employ more than 7 million workers. The Stop the HIT Coalition, a broad-based group representing small businesses, will host a discussion with Congressman Reed and local businesses about why this issue is important.