NFIB predicts job loss in WV from Affordable Care Act tax - WOWK 13 Charleston, Huntington WV News, Weather, Sports

NFIB predicts job loss in WV from Affordable Care Act tax

Posted: Updated:

The National Federation of Independent Businesses says the Mountain State could lose close to 2,000 jobs from a tax in the Affordable Care Act.

The federation's recent study predicts 1,095 to 1,902 jobs lost by 2022 because of increased costs from the health insurance tax

This tax begins in 2014 and the federation says it could mean $100 billion in new taxes on small businesses, their employees and self-employed people in the next decade, the news release states.

The federation continued, saying the state's gross domestic product also may decrease and cumulative lost sales among small businesses could be approximately $290 million.

 "Businesses in West Virginia are struggling under unprecedented costs from taxes and regulations. We need to do all that we can to increase jobs, not reduce them," NFIB healthcare policy director Amanda Austin said in the federation's news release.

The news release continues, saying bipartisan legislation to repeal this tax was introduced in February in the House of Representatives Reps. Charles Boustany, R-La. and Jim Matheson, D-Utah, and this month in the Senate by U.S. Sens. John Barrasso, R-Wyo. and Orrin Hatch, R-Utah.