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Study: Health Care Legislation Will Cost up to 700,000 Jobs by 2019


Posted by Americans for Tax Reform on Wednesday, March 17th, 2010, 10:21 AM PERMALINK


Americans for Tax Reform Foundation today released a study conducted by the Beacon Hill Institute on the job losses that will result from the passage of President Obama’s healthcare plan. 

The study uses standard practices to evaluate the job loss, but assumes more realistic policy outcomes (for example, the Medicare “doc fix” is assumed to be re-enacted by Congress every year).
 
From the Executive Summary:
 
Nancy Pelosi, the Speaker of the House of Representatives, has urged passage of the massive health reform plan moving through Congress as a way to create up to 400,000 jobs. Speaker Pelosi bases her claim on a report by the Center for American Progress (CAP) in which the Center estimates that the Patient Protection and Affordable Care Act (PPACA) would create 250,000 to 400,000 jobs per year over 10 years. 
 
This estimate by CAP amounts to a hurried effort to add academic heft to the claim that national health care reform offers a collateral benefit in the form of an economic “stimulus.” It turns out, however, that its methodology, stripped of unsupportable claims about savings in health care costs, shows just the opposite of what CAP intended. PPACA is a job killer, not a job creator.
 
The result is a loss of between 119,000 and 698,000 jobs between enactment of the bill this year and 2019. A breakdown is below:
 
Sector
ESI
Jobs
 
%
Low
High
Agriculture, mining and construction
 
 
 
Agriculture, forestry, fishing and hunting
20
-923
-5,441
Mining
68
-939
-5,478
Construction
37
-7,374
-43,316
Manufacturing
65
-18,022
-105,229
Trade
 
 
 
Wholesale trade
57
-8,149
-47,663
Retail trade
39
-14,364
-84,339
Transportation and communication
 
 
 
Transportation and warehousing
55
-6,290
-36,806
Utilities
80
-906
-5,271
Services
 
 
 
Information
63
-4,510
-26,342
Financial Activities
66
-13,236
-77,269
Professional and business services
44
-22,606
-132,596
Educational services
61
-5,493
-32,102
Leisure and hospitality
25
-8,436
-49,682
Other services
48
-7,946
-46,564
Totals
 
-119,194
-698,098


Click here for a PDF of this press release


Click here for a printable PDF of the full study

 

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