October 14, 2014
by Nick Novak
Originally published by The Washington Times.
A year removed from the massive failure that was the rollout of HealthCare.gov and the federal and state insurance exchanges, Americans are still somewhat vexed with the 2010 law. In fact, the most recent poll from the Kaiser Family Foundation shows that only 35 percent of people have a favorable view of Obamacare.
It is likely that negative impacts on individuals – like having an insurance plan cancelled or having to change doctors – have caused such a low favorability rating for the Affordable Care Act. But what about the impact on businesses?
In this case, the impacts are just as negative, especially for manufacturers.
Our country was built by people who built things. And while many Americans today are employed in different industries, manufacturing still supports about one in six private-sector jobs in our country. However, the growth of manufacturing may slow thanks to the ACA.
Four different surveys from three Federal Reserve banks – Dallas, Philadelphia and New York – show that the ACA could be slowing the economic recovery. More than one in four manufacturers responding to the August Texas Manufacturers Outlook Survey released by the Dallas Federal Reserve Bank said they plan to reduce the amount of workers they employ because of “the effects the ACA is having on [their] firm.”
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