For Immediate Release
October 21, 2008
SAN FRANCISCO - The Asian & Pacific Islander American Health Forum (APIAHF) today encouraged Asian American, Native Hawaiian and Pacific Islanders to vote in the U.S. Presidential election on November 4th, and to consider how the tax and health care proposals of each presidential candidate would affect Asian American-owned businesses as they go to the polls.
The Census Bureau's Survey of Business Owners, Asian-Owned Firms: 2002 (released in May 2006) reports that as of 2002, there were 1.1 million Asian American-owned businesses, generating more than $326 billion in revenues (up 8 percent from 1997), and employing 2.2 million people.
Senator John McCain's (R-AZ) health care proposal contains a provision to eliminate the tax exclusion of employer payments for health coverage, and replace it with a refundable tax credit for those who purchase coverage. According to the New York Times, the U.S. Chamber of Commerce, the Business Roundtable and the National Federation of Independent Business believe that McCain's plan would result in further erosion of employer-sponsored health insurance and will do little to decrease the number of uninsured.
"Fifty-nine percent of Asian Americans receive health care through their employers," said Dr. Ho Luong Tran, president and chief executive officer of APIAHF. "Our communities will be looking to both candidates to protect employer-sponsored health care and to enact plans to strengthen the ability of small business owners to provide quality health care to their employees."
Senator Barack Obama's (D-IL) tax proposal reverses recent tax cuts for those earning over $250,000 and reduces payments to Medicare Advantage plans, which are 12 percent higher than the cost to treat the same patients under traditional Medicare. Eighty-three percent of Asian American small businesses make less than $250,000 a year. Many would get a tax cut in addition to a proposed Health Care Tax Credit of up to 50% of premiums paid on behalf of employees.
"During these uncertain economic times, we need to make sure that the candidates will provide the best leadership to help our small businesses concentrate on innovation and growth," said Dr. Tran. "Strengthening our nation's small businesses and their ability to provide health coverage is critical to our communities and to our nation."
According to the newly released multi-lingual National Asian American Survey of 5,000 Asian Americans, health care is ranked as the most important problem facing the nation after the economy, Iraq war, and oil prices. Seventy-five percent of respondents agreed that government should guarantee health care for everyone.
"It is clear that the candidates differ sharply when it comes to providing guaranteed affordable access to health care," said Dr. Tran. "When considering who we should vote for in November, we urge all Asian American, Native Hawaiian and Pacific Islander voters to carefully consider the candidates' health care positions and the impact on the health of our families, employees and communities."
APIAHF is a national advocacy organization dedicated to promoting policy, program, and research efforts to improve the health and well-being of Asian American, Native Hawaiian and Pacific Islander communities.
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