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The re-election of Barack Obama as president is a vindication for healthcare reform, also known as the Patient Protection and Affordable Care Act, Workforce Management magazine, a sister publication of Staffing Industry Review, reports.
The article quotes Washington attorney Eric Zimmerman as saying Republican lawmakers won’t be successful in overturning the statute in its entirety.
For the Workforce Management story, click here.
Healthcare reform calls for employer penalties starting in 2014 for firms that do not offer healthcare insurance or that offer insurance that does not meet certain qualifications.
A look-back period could significantly reduce the penalties faced by staffing firms. For more on the look-back period click here. The October issue of the Legs and Regs Advisor reported that a final rule on the look-back was expected after this election.
Meanwhile, the U.S. Chamber of Commerce congratulated Obama on his win, but warned the next major concern is the fiscal cliff.
“Now that the election is behind us, the most urgent matter facing the president and the outgoing Congress is to take action before January 1 to stop massive tax increases and indiscriminate spending cuts, which could push our economy back into a recession,” U.S. Chamber of Commerce President and CEO Thomas Donohue said in a statement. “They must act to prevent this fiscal cliff, while committing to negotiate a Big Deal to control the national debt by reforming entitlements and taxes and boosting American energy production.”