New Health Care Law a 'Job Killer?'; Could Lead Many to Quit - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

New Health Care Law a 'Job Killer?'; Could Lead Many to Quit Work

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GOP lawmakers say a new bi-partisan government report proves the president's new health care law is a jobs killer.

"CBO projects that people will be working fewer hours, precisely because of the incentives created in this law. The effects will be severe," says Rep. Paul Ryan (R-Wisconsin).

The Congressional Budget Office estimates that because of the Affordable Care Act, "the equivalent of 2 million workers will leave their jobs by 2017." But Democrats argue employers will not be cutting jobs, instead some workers will simply choose to work fewer hours or retire early because they can get insurance without full-time employment.

"This is not businesses cutting back jobs. This is people having new choices they didn't used to have," says Jason Furman, White House Council on Economic Advisors.

The CBO predicts the workforce will actually grow over the next 10 years, just not as quickly as it would without the new health care law.

"So when you boost demand for labor in this kind of economy, you actually reduce the unemployment rate because those people who are looking for work, can find more work. Right?" says Chris Van Hollen (D-Maryland).

Republicans are intent on making this a campaign issue.

"If I had my way about it, we would repeal 'Obamacare' and start all over and get it right," says Sen. Mitch McConnell (R-Kentucky).

The CBO expects 6 million people to sign up for health insurance in 2014, that's one million fewer than originally expected.

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