- ISIL creates all-female brigade to terrorize women into following Sharia law
- ISTOOK: Obama wants to be impeached
- Obama to Latin leaders: Help with border
- Military bans troops from Baptist church event honoring ‘God’s Rescue Squad’
- ‘Pocket drones’: U.S. Army developing tiny surveillance tools for the next big war
- Belgian cafe posts sign: Dogs allowed, but Jews stay out
- Gen. Dempsey: Pentagon studying Russian readiness plans not viewed ‘for 20 years’
- John McCain: Botched, two-hour execution of murderer is ‘torture’
- House GOP ready to move border bill
- Bomb squad called after live WWII artillery washes on Cape Cod beach
Health care law’s opponents point to cost
Question of the Day
The small business lobby that helped spearhead the legal challenge to President Obama’s health-care law expressed sharp disappointment Thursday over the Supreme Court’s rejection of their case.
Officials of the National Federation of Independent Business predicted the court ruling will lead to massive job loss and closed businesses as the national health plan is rolled out. Most of the provisions will be implemented by 2014.
The NFIB in a statement called the president’s plan a “tax on all Americans” that amounts to a “broken campaign promise” from the Obama administration not to raise taxes. The court ruling by Chief Justice John G. Roberts Jr. relied heavily on the government’s taxation powers in allowing the law to stand.
“The power and control of health care decisions should be in the hands of the consumer, not the government,” said Dan Danner, president and CEO of NFIB.
“We are concerned about the precedent that this will set in Congress’ ability to mandate other aspects of our lives, but we will move forward from today to continue to fight, harder than ever, for real health care reform for our membership,” he added.
In its 5-4 decision, the Supreme Court upheld the individual mandate, the most controversial aspect of the Affordable Care Act, which requires all Americans to buy health care.
The Supreme Court’s ruling produced a mixed reaction on Wall Street, with many hospital stocks going up in price, while insurance stocks declined.
HCA Holdings, the largest private-owned hospital, closed at $29.47, up $2.86. Community Health Systems, another hospital, was up $2.05 or 8 percent, as were Tenet Healthcare (up 5.4 percent) and Health Management Associates (up 8.8 percent).
But insurers did not do so well. Aetna was down 2.7 percent to $39.85, while WellPoint dropped 5.1 percent to $65.90.
The NFIB was among a number of business groups, including the U.S. Chamber of Commerce, National Association of Manufacturers, and Americans for Tax Reform, that criticized the ruling.
“This day will go down in history as the day when Americans lost a part of their freedom - the freedom to choose what they want to buy with their own money,” said Karen Harned, executive director of NFIB’s Small Business Legal Center.
Thomas Donohue, president and CEO at the U.S. Chamber of Commerce, said the health care law will deliver a big blow to the economy.
“While we respect the court’s decision, today’s Supreme Court ruling does not change the reality that the health care law is fundamentaly flawed,” he said. “Left unchanged, it will cost many Americans their employer-based health insurance, undermine job creation, and raise health care costs for all.”
The National Association of Manufacturers, meanwhile, contends the new health care plan will raise costs on employers.
“Since the beginning of the health care debate, manufacturers have consistently made it clear that lowering costs should be the central focus of any health care reform effort,” said Jay Timmons, president and CEO of NAM.
“It is clear that the Affordable Care Act did not address this issue and, in fact, will make matters worse,” he added.
But the nation’s labor groups are thrilled with the outcome. AFL-CIO President Richard Trumka said he is
“pleased and relieved” with the Supreme Court’s ruling.
“Today’s decision means that we can continue moving full speed ahead to implement and build upon the Affordable Care Act,” he said.
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
About the Author
Tim Devaney is a national reporter who covers business and international trade for The Washington Times. Previously, he worked for the Detroit News, Grand Rapids Press, Portland Press Herald and Bangor Daily News. Tim can be reached at firstname.lastname@example.org.
- Dysfunction, disarray at Homeland Security management cited in IG's report
- GM's Barra to be first woman to run top American carmaker
- Treasury sells last shares in 'Government Motors'
- U.S. businesses reach out quickly to partners in Iran
- General Motors ending Chevrolet sales in Europe to focus on Opel and Vauxhall
Latest Blog Entries
TWT Video Picks
President wants everyone but himself to pay more
- 'Pocket drones': U.S. Army developing tiny spies for the next big war
- U.S. evacuates embassy in Libya amid violent clashes between militias
- ISTOOK: Obama wants to be impeached
- 'We're coming for you, Barack Obama': Top U.S. official discloses threat from ISIL terrorists
- NAPOLITANO: What if our democracy is a fraud?
- Obama: U.S. should 'embrace an economic patriotism that says we rise or fall together'
- Ted Nugent loses second casino gig for 'racist remarks'
- EDITORIAL: Detroit's water 'spigot bigots'
- EDITORIAL: Obama's 'economic patriotism' means higher taxes
- Michelle Obama says money in politics is bad, asks donors for 'big, fat check'
Obama's biggest White House 'fails'
Celebrities turned politicians
Athletes turned actors
20 gadgets that changed the world
Fighting in Iraq