Small Business Finance News
Obama Highlights Healthcare Reform Benefits For Small Businesses
Written by Jenna Weiner
Published: 4/1/2010
President Obama emphasized the benefits of healthcare reform for small businesses on Thursday.
Speaking in Maine Thursday, President Barack Obama said that healthcare legislation will bring immediate aid to small business owners, Bloomberg reports.
The president is on the road to present healthcare reform to the American public, which is divided over the legislation.
Reform has proven controversial, but it could represent good news for entrepreneurs because of its focus on helping small businesses.
President Obama emphasized the tax credits, which could cover up to 35 percent of health insurance costs for employees. Citing the Congressional Budget Office, Bloomberg reports that the credit is expected to save a total of $40 billion for small businesses over the next nine years.
The White House is campaigning to teach small businesses nationwide about the credit. The effort includes tax workshops, mailings to business owners, and new information online.
In a blog post on the White House website, economist Gene Sperling wrote that the value of the tax credit and provisions like it "lies in the importance of ensuring that our health policies put wind at the back – not sand in the face – of those employers who want to do the responsible thing for their workers and their families."
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