WASHINGTON, D.C. | July 24, 2012 -
Fresh on the heels of news that one in ten U.S. employers will soon drop health care coverage for workers as a result of the job-destroying health care law, the Congressional Budget Office (CBO) released a new report illustrating ObamaCare’s devastating impact on American families and taxpayers.
According to the report, the health care law that President Obama promised would lower costs will lead to more government spending and higher taxes on working families and job creators:
- $117 billion tax increase on job creators for failing to provide government approved health insurance;
- $55 billion tax increase on Americans who fail to purchase government approved health insurance;
- 4 to 6 million fewer workers with health insurance through an employer;
- $111 billion in higher taxes on health insurance plans that exceed arbitrary premium limits set by Washington Democrats; and
- $1.7 trillion in spending to fund a government takeover of health care through 2022.
At a time when Washington D.C. is already running trillion dollar deficits, today’s report confirms ObamaCare is a government takeover workers, employers, and taxpayers simply cannot afford.
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