Will Big HIT take toll on Small Business Saturday?

The Soap Opera, Madison, WI

The Big HIT is the Health Insurance Tax, which is part of the ObamaCare law. This millstone kicks in three years from now, but the upcoming burden is on the mind of most small business owners.

More from StopTheHit:

Will Big HIT Take Toll on Small Business Saturday?

Congress Has Opportunity To Prevent Massive Small Business Job Loss by Repealing the Health Insurance Tax (HIT)

Washington, D.C. This Saturday, small businesses across the country are hoping for a huge boost from their local communities. November 26th is "Small Business Saturday" as designated by the US Senate and numerous commercial sponsors who see the event as an opportunity to help out the number one job-creating sector of our economy.

The event has already motived millions of Americans to pledge to "Shop Small" on Saturday. However, due to a tax on the insurance policies purchased by nearly all small businesses, "Small Business Saturday" could become a rare bright spot in an otherwise devastated small businesses community.

Small Business Saturday is a fantastic way to show our appreciation for those hard-working Americans in our community that are keeping this economy going. While companies of all size are pitching in to make this one of the most successful Small Business Saturday's of all time, Congress can make the biggest impact by passing legislation to repeal the HIT.

Many companies have come to the aid of small businesses, including those that have donated $1 million to support the cause. The HIT, which begins costing small businesses in 2014 and will collect $87 billion by the end of the decade, far surpasses the kind of funds that can be pledged by supporters of small businesses. In the end, the cost to small business employees with a family plan could be immediate and severe, with a reduction in their take-home pay by $500 a year, or $5,000 in just the first decade.

According to the 2011 Small Business Saturday Consumer Spend Survey, 89 million people said they plan to Shop Small on Small Business Saturday. The Stop The HIT Coalition is urging these supporters of small business to call on their representation in Congress to repeal the HIT by passing The Jobs and Premium Protection Act, which was introduced in the Senate last week and HR 1370, introduced earlier this year in the House of Representatives.

When passed, this legislation will result in enormous savings for small businesses and would enable them to invest in job creation. Repealing the HIT is an opportunity not only to promote small business; it is imperative to save small business.

More information about Stop The HIT can be found at www.StopTheHIT.com.

To find out more about Small Business Saturday, visit www.SmallBusinessSaturday.com.

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