Monday, March 22, 2010

Lieutenant Governor Michael Fedele's statement on Health Insurance Reform

"This bill was repeatedly rejected by the American people and it is especially bad for Connecticut, the insurance capital of the world. It contains a number of job-killing provisions that will guarantee lost jobs in our state. It nearly doubles the tax on health insurers and triples the penalty on small businesses who don't offer health care insurance to their employees from $750 to $2000 per employee and applies the penalties to both part-time and full-time workers. Other provisions raise the top marginal rate on small business owners by 20 percent and the top tax rate on investment income by 60 percent - discouraging economic growth and job creation. These provisions will decimate small businesses and cost Connecticut jobs at the worst possible time."

"Providing health care to the uninsured is a worthy goal, but the one size fits all approach of this legislation is particularly harmful to states like Connecticut where about 95 percent of our citizens do have coverage. One of the stated goals of Obamacare is to provide coverage to 93 percent of our population - and while Connecticut has already achieved this - we continue our efforts to provide coverage to all the uninsured. But states should have the ability to tailor programs to reach the uninsured - as Connecticut has done with the Charter Oak program - without the "bigfoot" approach of this bill."

"I urge our Attorney General to join other states in filing suit to stop the implementation of this legislation."

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