Romney Campaign Press Release - Obama's Hostility To Job Creators Hurts Small Business

"President Obama has repeatedly demonstrated that he is hostile to job creators. Nowhere is this more evident than his two signature achievements – Obamacare and Dodd-Frank. These misguided policies have prevented businesses from growing and creating new jobs. As president, Mitt Romney will work from day one to repeal these disastrous laws and allow businesses to begin hiring again." –Andrea Saul, Romney Campaign Spokesperson

Obamacare Has Forced Businesses To Shed Workers And Has Imposed New Costs On Job Creators:

Nearly Three-Quarters Of Small-Business Owners Blame Obamacare For Impeding Job Creation. "As part of the explanation for the general economic pessimism, 78 percent of small businesses believe that taxation, regulation and legislation from Washington make it harder for businesses to hire more employees — and 74 percent blame the recent health care reforms passed by the Obama administration for creating an impediment to job creation." (Tim Mak, "Chamber Poll: Small Biz Blames D.C.," Politico, 1/18/12)

Obamacare Could Cost Businesses In The Medical Device Industry To Shift Tens Of Thousands Of Jobs Overseas. "The medical device industry says it could lose 10 percent of its U.S. workforce because of a tax created by healthcare reform. The Advanced Medical Technology Association (AdvaMed) released a report Wednesday that says device-makers might ship 43,000 jobs overseas once the tax takes effect in 2013." (Sam Baker, "Device-Makers Say Tax Will Cost 43,000 US Jobs," The Hill, 9/7/11)

Many Businesses Are "Considering Changes To Their [Health Care] Plans – Including Pushing Costs To Workers" Because Of Obamacare's Employer Mandates. "Big employers faced with incorporating the first round of health-care changes next month are grappling with how to comply with the long list of new rules. Many companies are hiring consultants to help sort though the mountain of new mandates, which include extending dependent coverage to children up to age 26, and may eventually result in covering more employees. Some are also considering changes to their plans—including pushing costs to workers." (Dana Mattioli, "Firms Feel Pain From Health Law," The Wall Street Journal, 12/13/10)

As Many As 80% Of Small Businesses Could Be Forced To Change Health Care Plans Under Obamacare's New Regulations. "The administration estimated that by 2013, health plans covering as few as 39 percent and as many as 69 percent of employees could lose protected status. For small employers, the total could be as high as 80 percent; for large ones, it could reach 64 percent." (David S. Hilzenrath and N.C. Aizenman, "New Health-Care Rules Could Add Costs, And Benefits, To Some Insurance Plans," The Washington Post, 6/15/10)

Last Year, Employer Costs For Health Coverage Increased At The Fastest Rate Since 2005. "The cost for businesses to buy health coverage for workers rose the most this year since 2005 and may reach $32,175 for a family in 2021, according to a survey of private and public employers." (Jeffrey Young, "Health-Benefit Costs Rise Most In Six Years," Bloomberg, 9/27/11)

And President Obama's Dodd-Frank Law Doubles Down On New Regulations By Threatening To Regulate Community Banks "Out Of Existence":

President Obama's Dodd-Frank Regulations Will Impact "Storefront Check Cashiers, City Governments, Small Manufacturers, Home Buyers And Credit Bureaus." "Far from Wall Street, President Barack Obama's financial regulatory overhaul, which may pass Congress as early as Thursday, will leave tracks across the wide-open landscape of American industry. Designed to fix problems that helped cause the financial crisis, the bill will touch storefront check cashiers, city governments, small manufacturers, home buyers and credit bureaus, attesting to the sweeping nature of the legislation, the broadest revamp of finance rules since the 1930s." (Michael M. Phillips, "Finance Overhaul Casts Long Shadow On The Plains," The Wall Street Journal, 7/13/10)

"Bankers Worry The Flood Of New Paperwork Could Choke Community Banks, Regulating Some Out Of Existence." (Adam Belz, "Small Banks Say New Mortgage Regulations Too Onerous," USA Today, 8/14/11)

President Obama's Dodd-Frank Law Has Hundreds Of Rules Yet To Be Written. "The ozone rule would cost $19 billion to $90 billion in 2020, according to the White House. The Obama administration puts the cost of rearview cameras at $2.7 billion. A Bloomberg Government study in July found that four provisions of the Dodd- Frank law may cost banks and other financial services companies $22 billion, with hundreds of rules yet to be written." (Andrew Zajac, "Obama's Second Term To-Do List Positioned To Out-Regulate Bush," Bloomberg, 3/15/12)

It's No Surprise That Small-Business Owners Rank Regulations As One Of Their Top Impediments To Hiring:

Gallup: Nearly Half Of Small-Business Owners Named Concern Over Government Regulations And Rising Health Care Costs As Reasons For Why They Were Not Hiring New Employees. (Dennis Jacobe, "Health Costs, Gov't Regulations Curb Small Business Hiring," Gallup, 2/15/12)

According To The Small Business And Entrepreneurship Council, "Business Owners Remain On Edge Regarding The Tidal Wave Of Federal Government Regulation." "'Business owners remain on edge regarding the tidal wave of federal government regulation that has been advanced or proposed over the past two years. ... The pain of the harsh recession was intensified and lengthened by this hyper-regulatory environment,' Karen Kerrigan, president of the Small Business and Entrepreneurship Council, wrote in a Jan. 12 letter to Issa." (Philip Rucker and David S. Hilzenrath, "GOP Eyes Rules That Firms Say Hurt Jobs," The Washington Post, 2/7/11)