To the Editor:
New taxes make it harder for me to operate my business and remain competitive. After all, the more I get charged, the more I have to charge my customers. In the end, taxes drive up costs for everyone.
Now there’s a new tax that small business owners have to worry about. A provision of the Affordable Care Act, the Health Insurance Tax (HIT) has been levied on health insurance companies beginning this year. This means that small businesses will probably see an increase of $500 per policyholder annually.
Making matters worse, big corporations and labor unions are exempt from the HIT. Small businesses like mine keep the economy going, and it’s unfair for our sector to be targeted like this.
I have owned a residential construction company tor eight years, with six employees. Taxes and the cost of doing business are already so high, and the last thing any of us need is yet another expense to contend with.
While I will not feel the effects of the HIT directly, we will all be impacted when small businesses raise their prices to compensate for it. Indeed, the HIT will not only adversely affect small businesses, but it will further erode our fragile economy.
Fortunately, our elected officials in Washington can take action to repeal the HIT. A bill called the Jobs and Premium Protection Act aims to void this unfair tax.
For the sake of entrepreneurs and small business owners everywhere, let’s hope that it passes both chambers of Congress.
Billy Catlett, owner
Fort Ashby, W.Va.