Small Business Health Care Tax Cut: Companies Complain They're Being Left Out

[laughingliberal]

WASHINGTON — Zach Hoffman was confident his small business would qualify for a new tax cut in President Barack Obama's health care overhaul law.

But when he ran the numbers, Hoffman discovered that his office furniture company wouldn't get any assistance with the $79,200 it pays annually in premiums for its 24 employees. "It leaves you with this feeling of a bait-and-switch," he said.

When the administration unveiled the small business tax credit earlier this week, officials touted its "broad eligibility" for companies with fewer than 25 workers and average annual wages under $50,000 that provide health coverage. Hoffman's workers earn an average of $35,000 a year, which makes it all the more difficult to understand why his company didn't qualify.

Lost in the fine print: The credit drops off sharply once a company gets above 10 workers and $25,000 average annual wages.

More at link: http://www.huffingtonpost.com/2010/05/20/small-business-health-car_n_583058.html

Would be good to see this part expand more.

[Luminous Animal]

1. The entire formula is bullshit.

It excludes small businesses that can only realize a small profit due to the market demands of high wages for it's employees.

[laughingliberal]

2. This is a shame. I had hope for this part of the bill. eom