This [Obamacare] will be the biggest job-killer ever.
-Gov. Rick Scott (R-FL), 03/26/2012
Actually, In contrast to the “significant job losses” projected by a 2011 GOP report, the law’s impact on jobs is likely to be minimal according to the CBO. The Republican report fails to mention that in many cases workers may be choosing to exit the labor market voluntarily. With new options to qualify for Medicaid or subsidized coverage, the Affordable Care Act allows those working solely for the purpose of keeping their insurance to work less or retire. Although fines imposed by the employer mandate may reduce the number of low-wage jobs, those cuts will be limited and largely offset by potential job increases in health and insurance industries.
In sum, the new law introduces incentives that will push employment numbers in both directions, but the net effect is hardly a doomsday for jobs.
Read more in our new memo debunking the 12 biggest myths about the Affordable Care Act.