by Christopher Freeburn | February 11, 2014 9:20 am
On Monday, the White House said that businesses with more than 50, but less than 100 employees, would get another year to come into compliance with requirements of the Affordable Care Act, commonly known as Obamacare.
Companies with more than 100 workers will have to meet Obamacare requirements for 70% of their employees who work more than 30 hours a week by 2015, and 95% by 2016. The administration of President Barack Obama, who championed the Affordable Care Act, has already issued several delays to the implementation of the new law, USA TODAY notes.
Republicans pounced on the latest Obamacare delay. A leading GOP congressman called the Obamacare mandate on businesses “bad for middle class families” and warned that it will dampen the nation’s economic growth. Republicans, who have repeatedly attempted to pass legislation to repeal Obamacare have also criticized the president for unilaterally delaying troublesome parts of the law.
However, the National Retail Federation expressed some satisfaction with the latest Obamacare delay. The NRF has previously opposed parts of Obamacare.
Critics of Obamacare have warned that it could prompt companies to cut back worker hours and benefits in order to avoid costs imposed by the law.
Want to share your own views on money and politics? Drop us a line at firstname.lastname@example.org and we might reprint your views in our InvestorPolitics blog! Please include your name, city and state of residence. All letters submitted to this address will be considered for publication.
Source URL: http://investorplace.com/investorpolitics/obamacare-news-employer-mandate-delayed-another-year/
Short URL: http://investorplace.com/?p=475680
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.