Retailers: Obamacare Ruling Will Punish Businesses of All Sizes

Thursday, 28 Jun 2012 11:08 AM

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A Supreme Court decision to uphold the Patient Protection and Affordable Care Act will punish businesses of all sizes, the National Retail Federation (NRF) said Thursday.

The Supreme Court upheld the law, including its mandate requiring individuals to buy health insurance and employers with 50 employees or more to provide insurance to their workers.

“As the voice of retailers of all types and sizes, we’re disappointed by today’s ruling. The Court missed an opportunity to redress the many shortcomings of the law," NRF President and CEO Matthew Shay said in a statement.

Editor's Note: Economist Unapologetically Calls Out Bernanke, Obama for Mishandling Economy. See What They Did

“As it stands, the law wrongly focuses more on penalizing employers and the private sector than reducing health costs. For these reasons, NRF has been a consistent skeptic of the Affordable Care Act."

Costs will rise for retailers, which will hurt the economy.

“Although the Court upheld the law’s constitutionality, many problems remain: it penalizes employers too much; it doesn’t do enough to reduce the cost of healthcare; and it is unreasonably complicated and difficult to implement and administer," Shay said in the statement.

“This law will have a dramatic, negative impact on every employer and employee in the United States and further constrain job creation and economic growth.

“NRF will redouble our efforts to repeal the law while we continue to work, in good faith, with regulators to smooth implementation for retailers and businesses alike.”

Republican National Committee Chairman Reince Priebus also said the ruling will send healthcare costs rising.

“The only way to save the country from ObamaCare’s budget-busting government takeover of health care is to elect a new president,” Priebus said in a statement.

“Under President Obama’s signature legislation, healthcare costs continue to skyrocket, and up to 20 million Americans could lose their employer-based coverage. A panel of unelected bureaucrats now has the unprecedented authority to come between elderly patients and their doctors. Meanwhile, the rules and regulations placed on job creators and small businesses make it nearly impossible to hire new workers at a time when Americans desperately need jobs," Priebus added.

“We need market-based solutions that give patients more choice, not less. The answer to rising health care costs is not, and will never be, Big Government."

Editor's Note: Economist Unapologetically Calls Out Bernanke, Obama for Mishandling Economy. See What They Did



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