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How the PPACA is inhibiting Job Creation and Economic Growth

The Congressional Committee on Oversight & Government Reform has posted my written testimony which corresponds with the testimony I will provide tomorrow. You can follow the testimony here. You can read my written testimony here. An excerpt is below:

The purpose of my testimony is (i) to describe our company and how we create jobs, (ii) to describe our long standing commitment to meaningful nutritional disclosure, (iii) to discuss the ineffectiveness, burdens and unnecessary expense of the Patient Protection and Affordable Care Act’s (“PPACA”) proposed menu labeling requirements and (iv) to discuss the severe economic burdens the PPACA’s mandatory health insurance provisions impose on American businesses. The simple fact is that regulations such as those growing out of the PPACA do impose costs and that those costs do result in reduced growth stifling both job creation and prosperity. As matters currently stand, the PPACA is creating significant concern in the American business community with respect to the increased costs and regulatory burdens it will undoubtedly impose. These costs and burdens are increasing the risks of new business ventures and discouraging investment. When entrepreneurs and businesses are unable to forecast with reasonable certainty that a venture will return a profit they will not invest, they will not grow and they will not create jobs. The predictable result is an uncertain and jobless recovery. We respectfully request that Congress review the PPACA’s provisions to determine which can be administered in a way that reduces costs for the businesses they impact. We further request that Congress review the PPACA’s provisions to determine which provisions fail to accomplish anything productive and eliminate such provisions. If done effectively, this review would encourage job creation and prosperity as well as better government. As we all work to pull our nation out of the current economic malaise, why hurt American businesses ifit gives you nothing in return?

You can read the entire document here.:

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