Obamacare’s increased reporting requirements would require businesses to issue 1099’s whenever they do more than $600 of business with another entity in a year — a tremendous new cost and frustration for businesses with no tangible benefit to anyone.
Democrats reverse field and now say that companies were right to claim millions in loses as a result of the passage of ObamaCare — as these companies also discuss potentially dropping their employees’ health-care plans.
The Oklahoma Legislature formally expresses its opposition to Obamacare.
Missouri moves toward a potential August referendum to let voters express their opinions about Obamacare’s individual mandate, which could provide symbolic support for repeal.
Under Obamacare, businesses would have to issue millions of 1099’s and would have to gather taxpayer identification numbers for every payee or vendor with whom they do $600 in business — swamping them in paperwork.
Firms say Obamacare’s tax on medical devices, which would begin in 2013, would cost jobs and reduce innovation.
Companies’ internal documents show that the law’s critics were correct: Obamacare threatens employer-provided insurance.
Independent actuarial firm Milliman conducted a study at the behest of Indiana’s state government which found ObamaCare would cost the state $20 million in the next year alone, with almost $3 billion in new costs over the next 10 years.