Obama Proposes Small Biz Tax Credits For Health

Reuters:

Democratic White House hopeful Barack Obama unveiled a proposal on Sunday to give $6 billion a year in tax credits to small businesses that provide health insurance plans.

In a speech to Latino voters of the National Council of La Raza in San Diego, Obama gave credit for the idea to Sen. Hillary Clinton, whom he defeated in a hard-fought primary for the Democratic nomination for November’s election.

Under the plan, small businesses would get a refundable credit of up to 50 percent on premiums paid on behalf of their employees. To be eligible, small businesses will have to offer a quality health plan to all of their employees and cover a meaningful share of the cost of employee health premiums.

Photo by asterisc21.

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