BigNews.Biz - May 18,2010 - (Washington D.C.)- Ways and Means Committee Chairman Sander M. Levin (D-MI) and Ways and Means Health Subcommittee Chairman Pete Stark (D-CA), today commented on the Obama Administration's implementation of the small business tax provision in health care reform. The Administration today issued new guidance making it easier for small businesses to determine their eligibility for tax credits while ensuring that they will not receive lower credits because of state credits and subsidies that may be available.
“The new guidelines help small businesses determine their tax credit so they can provide quality health care for their employees,” said Ways and Means Committee Chairman Sander Levin (D-MI). “The tax credit is an important, immediate provision that frees up resources for future growth and job creation at those small businesses offering insurance.”
"Over the last eight years, the percentage of small businesses providing coverage has dropped from 57 to 49 percent," said Ways and Means Health Subcommittee Chairman Pete Stark (D-CA). "One-third of the nation's uninsured works for small businesses. These tax credits will expand coverage by helping small businesses provide health care for their employees."
For more information on what health reform does for small businesses, please visit: http://go.usa.gov/3l4