New Report Shows Almost 40,000 Small Businesses Qualify for Maximum Credit

Washington, DC - Congressman John D. Dingell (D-MI15) said a new report indicating the vast majority of Michigan small businesses are eligible for health reform tax credits proves what he’s been saying all along - health care reform will create jobs in Michigan.  Families USA and the Small Business Majority looked at how the tax credits in the Patient Protection and Affordable Care Act will help Michigan’s small businesses (employers with up to 25 workers).  Some of the report’s findings include:
 

• More than 85.1 percent of Michigan small businesses with fewer than 25 employees will be eligible this year for tax credits;
• 126,300 small businesses will qualify;
• 39,600 Michigan small businesses, that employ 10 or fewer workers who earn an average wage of less than $25,000, will qualify for the maximum tax credit of 35 percent.
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“Health care costs have been a monumental burden for our small business owners, who have struggled to hold onto the best employees and stay in business,” Dingell said.  “Now some entities have played to the worst fears of small business owners, spreading untruths about the individual mandate, but small business owners themselves stepped up and said ‘this bill will help us.’ This report proves once and for all what these small business owners have been saying - health reform will help our entrepreneurs and small business people create jobs.”

For more on how health care reform can work for you, go to HealthCare.gov.

Click here for more on the Families USA/Small Businesses Majority report.

Click here to read Congressman Dingell’s editorial on how health reform would help small businesses in the May 20th Detroit News.