Stop The HIT Coalition Member, NLBMDA, Applauds Representatives Noem & Sinema for Their Leadership to Repeal the Health Insurance Tax

[Washington DC] – The National Lumber and Building Material Dealers Association (NLBMDA) today announced its support for the Jobs and Premium Protection Act (H.R. 246), legislation introduced by Representatives Kristi Noem (R-SD) and Kyrsten Sinema (D-AZ) to repeal the Health Insurance Tax (HIT) and help lower health insurance premiums for small businesses.

“The HIT is hurting lumber dealers, most of which are small business operations and want to invest in their companies and employees but are unable to because of continued financial burdens that have been unnecessarily placed upon them,” said Jonathan Paine, President and CEO of NLBMDA. “On behalf of independent lumber dealers across the country, NLBMDA applauds Representatives Noem and Sinema for their leadership to fully repeal the HIT.”

NLBMDA surveyed its members in 2015 and found that health care expenses were the top issue impacting dealer business operations. The HIT is estimated to cost small businesses an extra $5,000 over the next decade. That is money that could otherwise be invested in capital improvements, growing product lines, giving employees raises, or hiring additional employees.

Some NLBMDA members and other small businesses will begin renewing their health care coverage on February 1, meaning dealers will see health care premium increases as early as next week because of the HIT. Moreover, the HIT is expected to increase every year, therefore dealers will continue to face steeper, more burdensome premiums over time. That is why NLBMDA calls on Congress to act now and repeal the HIT.

“HIT repeal remains a high priority,” said Paine. “We are committed to working with Representatives Noem and Sinema, and the over 100 Republicans and Democrats who are co-sponsoring the bill, to see that the HIT is repealed.”

###

The National Lumber and Building Material Dealers Association (NLBMDA) represents its members in the national public policy arena. Founded in 1917, the association represents over 6,000 member locations operating single or multiple lumber yards and component plants serving homebuilders, subcontractors, general contractors, and consumers in the new construction, repair and remodeling of residential and light commercial. www.dealer.org.