[Congressional Record (Bound Edition), Volume 161 (2015), Part 14]
[House]
[Page 20102]
[From the U.S. Government Publishing Office, www.gpo.gov]




         CBO REPORT ON WORK REDUCTION FROM AFFORDABLE CARE ACT

  (Mr. THOMPSON of Pennsylvania asked and was given permission to 
address the House for 1 minute and to revise and extend his remarks.)
  Mr. THOMPSON of Pennsylvania. Mr. Speaker, I rise to detail a report 
from the Congressional Budget Office that was released this month, 
which says the Affordable Care Act will lead to a reduction in work 
hours equivalent to 2 million jobs over the next decade.
  The key reason for the work reduction, according to the CBO, is 
healthcare subsidies which are tied to income, which will raise 
effective tax rates for Americans and will create a disincentive for 
people who are seeking promotions or new, higher paying jobs.
  The report also points to tax increases and penalties as a reason for 
the work reduction, including the employer mandate, which imposes 
penalties on those companies with more than 50 employees that do not 
provide insurance.
  The House and the Senate recently passed legislation that would 
repeal key parts of the Affordable Care Act, including the employer 
mandate. Unfortunately, President Obama has pledged to veto it.
  We can't allow these job losses to become a reality. This is why I 
will continue to work with my colleagues to make commonsense changes 
that will improve our Nation's healthcare system and will revitalize 
economic growth and jobs.

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