Report: Obamacare Having 'Chilling Effect' on Business
Even though the employer mandate does not kick in until next year, Obamcare is still having a "chilling effect" on business in Wisconsin and manufacturers across the nation.
According to a report in the Post-Crescent, "soaring health care costs and uncertainty over new fees and requirements have caused some businesses to put a hold on hiring and expansion."
Reed Hall, CEO and secretary of the Wisconsin Economic Development Corp., told the publication that "Wisconsin businesses view President Obama’s trademark legislation as yet another reason to avoid adding expenses."
“People tell me they just aren’t hiring because of that, until they know exactly what the expenses are going to be, so they know if they have any margin left,” Hall said. “They just can’t afford to hire.”
In addition, "American manufacturers listed rising health care costs as their biggest business challenge," according to a survey by the National Association of Manufacturers and IndustryWeek. One-third of respondents said Obamacare has "reduced their business outlook for 2014" and 23 percent said they "planned to reduce employment or stop hiring."