That net effect reflects changes in incentives in the labor market that operate in both directions: Some provisions of the legislation will discourage people from working more hours or entering the workforce, and other provisions will encourage them to work more. "The Congressional Budget Office (CBO) estimates that the legislation, on net, will reduce the amount of labor used in the economy by a small amount-roughly half a percent-primarily by reducing the amount of labor that workers choose to supply. It primarily comes from workers who choose not to work because they no longer have to work at jobs just to keep their health coverage. Still, that's not where the 800,000 jobs number comes from. Moreover, many of the effects of the legislation may not be felt for several years because it will take time for workers and employers to recognize and to adapt to the new incentives." "It is not clear, however, whether such changes would have a substantial impact on overall economic productivity or output. "To the extent that changes in the health insurance system lead to improved health status among workers, the nation’s economic productivity could be enhanced," the CBO said in its report. The CBO also projected the effects to be somewhat limited. (This part of the law takes effect in 2014.) Even so, the CBO has said, fines imposed on large employers will affect low-wage workers the most. Under its provisions, employers aren't required to offer insurance, yet if they don't and their workers make low wages and qualify for tax credits to buy insurance, then the employers will have to pay a fine. The law was expected to cost some employers money, particularly large ones. Let’s begin with the negative effects the health care law could have on employment. While the CBO had determined the law would reduce "the amount of labor used in the economy," that was not the same as concluding that 800,000 jobs would be shed. And in August 2010, it published a new outlook that considered the jobs impact of the just-approved health care law. The CBO is a nonpartisan agency that provides economic analyses to members of Congress on how legislation will affect the federal budget and the economy. What could the president be thinking by passing a bill like this, knowing full well it will kill 800,000 jobs?"īroadly, the projection is open to misinterpretation. ![]() Michele Bachmann said in a Republican presidential debate: "The CBO, the Congressional Budget Office, has said that Obamacare will kill 800,000 jobs. PolitiFact researchers have explored this testimony and topic before, most recently for a June 2011 Truth-O-Meter article after U.S. ![]() 11, 2011, blog post on saying that Doug Elmendorf, director of the Congressional Budget Office, had just testified to the House Budget Committee that as of 2020-21, the law was projected to reduce U.S. Under "Promise Broken," the mailer says: "The non-partisan Congressional Budget Office concluded ObamaCare will cost the U.S. His mailer lists among promises broken by President Obama the notion that the 2010 overhaul of health care laws would create jobs. Republican U.S House candidate Roger Williams of Texas promises to "end the fraud of Obamacare" in a mailer to Austin-area voters we spotted April 11, 2012.
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