As many polls have shown, a large proportion of large and small business owners are opposed to the Affordable Care Act – which some people refer to as "wildly misnamed" – because it compels companies that employ 50 or more full-time workers to offer employee benefits. This has led to staff cutbacks and changes in policy types in order to adjust to the mandate, which won't go into effect for at least another year.
However, if a bill garners the appropriate amount of support, it could be postponed for an additional year, according to the National Federation of Independent Business.
Introduced around the end of May, the Certify It Act of 2014 would require the Government Accountability Office to study the effects of the ACA on a yearly basis in order to determine what type of a financial impact it's having on business owners, both large and small. The direction of health insurance premiums would be examined, how many jobs lost or gained as well as companies overall financial well-being would also be given scrutiny.
Should the GAO certify that the health reform law is a detriment to business owners, it would postpone the health law until 2016 for everyone. Currently, the two-year delay is only for most employers with 50 to 99 people working 30 hours a week or more. For companies with at least 100 full-time staff members, the mandate starts next year.
Bill introduced by Tennessee senator
Senate Bill 2383 was sponsored by several legislators in response to the White House giving the Internal Revenue Services the ability to prevent employers from placing all of their workers into the federal exchanges to offset costs, The New York Times reported.
Jim Brown, director for the Tennessee division of NFIB, noted that giving the IRS this type of authority is clear evidence of government intrusion into the private market.
"When the White House announced it was granting the IRS sweeping power to certify an employer's hiring practices, small businesses were outraged," said Brown. "By telling employers they cannot make business decisions without consent of the IRS, many cannot plan for the future and are reassessing their entire operating plans."
He added that the White House clearly doesn't understand what it's like to operate a small business, as checking in with the IRS robs entrepreneurs of the decision-making process. The Certify It Act, however, would be a good check and balance on the government by requiring lawmakers to demonstrate that the ACA is helping employers.
"We commend Senator Alexander and Representatives [Stephen] Fincher and [Diane] Black for serving as a check to this unilateral affront to employers," said Brown.
The bill has since been referred to the Senate Committee on Finance.
Despite some business owners' problems with the ACA, sentiment among company leaders is high. Global management consulting firm ATKearney found that 4 out of 5 respondents are more optimistic about the worldwide economy now than they were 12 months ago. This suggests owners may increase their investments or hire more workers.
