Small Business
Small businesses and startup companies are the lifeblood of our economy. In these economic times, we must ensure that we are doing all we can to assist small businesses with targeted tax relief to hire new employees and invest in their businesses.
I have supported and authored legislation that will boost lending, provide needed tax incentives for emerging industries, and provide needed capital to startups that will grow small businesses in the short and long term. These efforts will build a stronger foundation for the American economy.
I worked to lower health care costs for millions of small businesses across the country by helping to ensure employers receive tax credits to make providing health coverage to their employees more affordable.
As part of the Affordable Care Act, small business owners are now receiving a tax credit that will cover up to 35 percent of the premiums employers pay to cover their employees. In 2014, that tax credit increases to 50 percent. This will save small businesses $40 billion over the next seven years.