This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Affordable Care Act Hits Another "Glitch," Mid-Term Elections

WASHINGTON, July 3, 2013 /PRNewswire/ -- Tuesday the Obama administration has announced it would give employers until 2015 to provide insurance to employees.  Officially, the administration made its decision for  two reasons: 1) to give themselves time to ease up on the rigorous reporting standards that will be required of employers; and 2) to give employers an extra year to comply, since the employer mandate is based on the reporting standards.

FreedomWorks President Matt Kibbe responded with the following statement:

"Concerns about paperwork seem a weak excuse for a full year's delay, especially since the employer mandate was not set to go into effect until next year.  The administration's sudden concern for businesses is clearly an attempt to assuage hard feelings about the Affordable Care Act as the 2014 elections draw near, and to avoid the potential political fallout of significant layoffs and hour reductions at companies looking to avoid the extra costs of mandatory coverage.  Requiring all mid-size and large employers to cover all their full-time employees is a disaster, both for businesses and for workers. The cost burden to employers will result in hours cut and jobs lost, as companies scrounge to make ends meet.

"Actions speak louder than words. The Obama administration knows the health care law is a  train wreck. They rammed it through in 2010 claiming it was urgently needed – so urgent, in fact, that they had 'to pass the bill so [we] can find out what's in it,' as  one representative infamously declared. Now, three years later, it still isn't "ready.

"Obamacare is an unwieldy, unwise and un-American piece of legislation. It places undue burdens on employers and threatens countless jobs. Worse, it threatens the freedoms we hold dear as Americans."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs