Nydia M. Velazquez: “I rise in strong opposition to the bill before us today. The Supreme Court's recent ruling upholding the health care…”

“I rise in strong opposition to the bill before us today. The Supreme Court's recent ruling upholding the health care bill was a historic win for this Nation's small businesses and their employees. Repealing the Affordable Care Act will be an enormous step backwards for 26 million small firms who not only want relief from high health care costs, but for Congress to focus on job creation. This bill will not help a single small business secure a loan, break into new public markets, or invest in its operations. The other side acknowledges this legislation is going nowhere, just like the previous vote we took at the beginning of this Congress. Not only is the health care bill good law, it is good policy and has already led to major achievements for small companies since its enactment. The tax credits from the health care bill have saved over 300,000 small firms an average of $1,400 on their insurance costs. The qualifying therapeutic discovery project program has invested $1 billion in over 4,600 small innovative firms that are developing groundbreaking therapies and creating jobs. Small firms are receiving more value for their premium dollars because the 80/20 rule is now in effect. Because of this, not only is the small group market receiving $321 million in rebates this summer, they are benefiting from lower premiums.…”