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Washington D.C. – House Majority Whip Kevin McCarthy (CA-23) released the following statement on the latest report detailing the financial burden Obamacare will have on small business and working families.

“House Republicans, from the very beginning, have warned of the dangerous impact the President’s healthcare law would have on our economy and healthcare system. Sadly, too many of these warnings have come to fruition and the American people are now facing consequences of skyrocketing premiums, unaffordable deductibles, loss of coverage, the loss of their current doctor or healthcare facility, and reduced work hours and wages.

“Just last Friday, the Administration quietly released a new report, two years after the deadline, detailing the effects of the President’s healthcare law on employer-based coverage. The non-partisan analysis found that two-thirds of all small businesses will face increases in monthly premiums – totaling 11 million Americans that will face premium increases as a direct result of the law. This report comes on the heels of a separate report by the Congressional Budget Office which found the healthcare law will result in the loss of 2.5 million “full-time equivalent” workers. Hardworking middle-class families are already suffering under the failed economic policies of this Administration, and now must bear the brunt of stagnated or lost wages, premium increases that amount to monthly pay cuts and job losses. The fundamental flaws that this law is built upon have moved from theoretical to reality for millions of Americans. This law must be delayed for all Americans in order to prevent further harm being done to our paychecks, jobs, and healthcare.”