The Small Business Health Care Tax Credit, part of the Patient Protection and Affordable Care Act, offers tax credits to help defray some of the mounting healthcare costs. In President Obama’s budget, the healthcare tax credit would be easier to claim, wrote Karen Mills, administrator of the U.S. Small Business Administration.
In the budget, the tax credit would be expanded from companies with up to 25 employees to companies with up to 50 employees. The proposal is expected to provide an additional $14 billion in tax credits to small businesses over the next 10 years.
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President Obama’s FY 2013 Budget Cuts Healthcare Spending by $360B
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