Nydia M. Velazquez: “With that, I am prepared to close. What will small businesses lose if health care reform is repealed? Small business tax…”

“With that, I am prepared to close. What will small businesses lose if health care reform is repealed? Small business tax credits that save employers $435 million in 2011 will be abolished. Insurers will be able to continue price-gouging their customers and denying coverage for preexisting conditions. Repeal will mean millions of families and employers will no longer receive the benefits of lower premiums on insurance company rebates worth over $300 million this year alone. I urge a ``no'' vote because the ACA was a step in the right direction. Without it, the self-employed and small business employees will continue to be uninsured at high rates with no hope of Republican action to fix the broken health care system. Mr. Speaker, instead of holding this vote, we should be spending our time on targeted measures to help our Nation's small businesses grow and create jobs. Maybe what we should be doing today is debating the jobs bill that the President presented to us in the House of Representatives. With that, I yield back the balance of my time, and I urge a ``no'' vote.”