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| 'Obamacare' will reduce US workforce, report finds | 'Obamacare' will reduce US workforce, report finds |
| (35 minutes later) | |
| President Barack Obama's health law will cut the US workforce by the equivalent of more than two million workers, a congressional watchdog says. | President Barack Obama's health law will cut the US workforce by the equivalent of more than two million workers, a congressional watchdog says. |
| The reductions will begin in 2017 after the law's provisions take full effect, the Congressional Budget Office (CBO) said in its report. | The reductions will begin in 2017 after the law's provisions take full effect, the Congressional Budget Office (CBO) said in its report. |
| Lower-income workers will be hardest hit, limiting their hours to avoid losing federal subsidies. | Lower-income workers will be hardest hit, limiting their hours to avoid losing federal subsidies. |
| Conservatives and the White House promptly clashed over the findings. | Conservatives and the White House promptly clashed over the findings. |
| In Tuesday's report the nonpartisan CBO said work hours would be reduced by the equivalent of 2.3 million full-time workers by 2021. | In Tuesday's report the nonpartisan CBO said work hours would be reduced by the equivalent of 2.3 million full-time workers by 2021. |
| The watchdog had previously estimated the healthcare law would result in 800,000 fewer full-time workers by 2021. | The watchdog had previously estimated the healthcare law would result in 800,000 fewer full-time workers by 2021. |
| 'Making it worse' | 'Making it worse' |
| According to the findings, the Patient Protection and Affordable Care Act, commonly known as Obamacare, will result in a slower rate of employment growth over the next decade. | According to the findings, the Patient Protection and Affordable Care Act, commonly known as Obamacare, will result in a slower rate of employment growth over the next decade. |
| The congressional analysts say there will be fewer workers because healthcare subsidies would "reduce incentives to work" and pose an "implicit tax on working" for those returning to a job with health insurance. | The congressional analysts say there will be fewer workers because healthcare subsidies would "reduce incentives to work" and pose an "implicit tax on working" for those returning to a job with health insurance. |
| The report provided fodder for congressional Republicans who are likely to make the health law a major issue in November's midterm elections. | The report provided fodder for congressional Republicans who are likely to make the health law a major issue in November's midterm elections. |
| "The middle class is getting squeezed in this economy, and this CBO report confirms that Obamacare is making it worse," Republican House of Representatives Speaker John Boehner said in a statement on Tuesday. | "The middle class is getting squeezed in this economy, and this CBO report confirms that Obamacare is making it worse," Republican House of Representatives Speaker John Boehner said in a statement on Tuesday. |
| The White House argued the CBO findings show an impact on labour supply not demand, arguing this does not mean businesses are cutting jobs. | |
| The healthcare law has been beset by controversy since its October rollout. | The healthcare law has been beset by controversy since its October rollout. |
| President Obama's Democratic allies have been trying to distance themselves from the issue in the lead-up to November's elections. |