Healthcare tax credit

More than 2.4 million California workers are employed by the more than 375,000 small businesses in the state eligible for $1.8 billion in tax credits in the federal healthcare reform, according to a new report released today. The tax credit helps small businesses pay for health coverage for their employees. A major obstacle to coverage, the report notes, is that many small business owners are unaware of these tax credits because of the noisy—and often misleading—debate over healthcare reform.

More than 19 million U.S. workers are employed by the 3.2 million small businesses eligible for $15 billion in tax credits in the federal healthcare reform, according to a new report released today. The tax credit helps small businesses pay for health coverage for their employees. A major obstacle to coverage, the report notes, is that many small business owners are unaware of these tax credits because of the noisy—and often misleading—debate over healthcare reform.

I joined Administrator Karen Mills, head of the U.S. Small Business Administration, and a Michigan small business owner on a tele-press conference today to discuss the expansion and simplification of the small business healthcare tax credit in the Affordable Care Act.