Stabenow Champions Tax Cuts for Michigan Small Businesses in Senate Health Insurance Reform Bill
U.S. Senator Debbie Stabenow today announced the inclusion of a provision she authored that will make health insurance more affordable for small businesses in Michigan and across the country. Her provision will be included in the amendment being voted on this evening in the Senate to the health insurance reform bill. Stabenow's provision will ensure eligible small businesses have immediate access to tax cuts that will help them purchase health insurance for their employees once the legislation takes effect. Eligibility for the tax cuts was also expanded so more small businesses will qualify. Over 100,000 Michigan small businesses could be eligible for these tax cuts.
"Without health insurance reform, businesses will see their health care costs more than double, costing us 3.5 million American jobs. The Patient Protection and Affordable Care Act will already reduce health care costs for small businesses by 25%. My provision helps small businesses even further by making tax cuts available to them immediately, providing more affordable health insurance. These cuts have also been strengthened to include more eligible businesses. We need to pass this bill now, to help small businesses strengthen our economy and create jobs." --U.S. Senator Debbie Stabenow