Former CBO Director: Obamacare Compliance Would Cost $24 Billion, 80 Million Hours of Paperwork
At a House Small Business Committee hearing on the impact of the implementation of Obamacare on businesses yesterday, witnesses testified that the uncertainty, cost, and complexity of the law is proving to be a barrier to economic growth.
Former Congressional Budget Office (CBO) Director Dr. Douglas Holtz-Eakin warned that compliance with the health care law would cost $24 billion and eighty million hours of paperwork:
"The ACA is very costly. It has about $24 billion in reported regulatory compliance costs. These are estimates that come from the administration itself.
"Eighty Million hours of paperwork time spent complying with those regulations, to give you some perspective - that's 40,000 full time employees filling out paperwork for a year nonstop."See more "Right Views, Right Now."