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BRT Letter Supporting Jobs & Premium Protection Act

Business Roundtable strongly supports “The Jobs and Premium Protection Act,” which would repeal the health insurance tax and prevent individuals and families from facing even higher health care costs.  Business Roundtable is an association of chief executive officers of leading U.S. companies with more than $7.3 trillion in annual revenues and nearly 16 million employees.  Roundtable member companies comprise nearly a third of the total value of the U.S. stock market and invest more than $150 billion annually in research and development – equal to 61 percent of U.S. private R&D spending.  Our companies pay $182 billion in dividends to shareholders and generate nearly $500 billion in sales for small and medium-sized businesses annually.  Roundtable companies give more than $9 billion a year in combined charitable contributions.

Business Roundtable companies provide health coverage to nearly 40 million Americans.  As such, we play a significant role in helping American workers and their families remain healthy or receive treatment when necessary.  Business Roundtable CEOs have opposed the tax since it was enacted and called for elimination of the tax in their pro-growth policy agenda, Taking Action for America: A CEO Plan for Jobs and Economic Growth, released earlier this year.  Business Roundtable CEOs consistently cite rising medical care costs as their number-one cost pressure.  These costs are inhibiting job creation and damaging our ability to compete in global markets.  Medical care costs are also putting a strain on the household budgets of many American families.  Imposing a tax on health care insurers will do nothing to improve the efficiency or quality of the health care system and will simply be passed on to consumers, causing their health care costs to increase without adding value or improving patients’ health.

For these reasons we applaud you for introducing “The Jobs and Premium Protection Act.” Business Roundtable looks forward to working with you to achieve passage of this important, bipartisan legislation that will prevent employers’ and families’ health care costs from rising unnecessarily.

Sincerely,

John Engler
JE/mg

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